MTN Ghana considers listing, share auction to boost local ownership

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MTN Group Ltd.’s Ghana business is considering a local stock-exchange listing as a way to increase local ownership, the unit’s Chief Executive Officer Serame Taukobong told reporters Tuesday in the capital, Accra.

“The issue will be the ability of the market to take that up and the sustainability of such an interaction,” he said, adding that a decision isn’t imminent. “If you look at how we’ve done in most of our operations, definitely local participation will be the next chapter.”

MTN, Africa’s largest wireless carrier, has operations in 22 countries on the continent and the Middle East and increased Ghanaian subscriber numbers by 7.1 percent last year to 13.9 million. The Johannesburg-based company has more than 50 percent market share in the West African country. MTN is also considering a local listing in the Zambian capital, Lusaka, the Post newspaper reported last month.

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