The market Capitalization of MTN Nigeria Communications Plc declined by N142.5 billion, representing a 2.95 per cent depreciation during a single-day trade on the floor of the Nigerian Exchange Limited (NGX).
During Monday’s trading session on the NGX, the telecom company’s Market Capitalization which opened at N4.82 trillion lost N142.5 billion or 2.95 per cent N142.5 billion, representing 2.95 per cent in settling at N4.68 trillion.
Also, the Yellow brand saw its shade price drop by N7 or 2.95 per cent to close at N230 per share down from its last closing value at N237 per share.
Further check on its trading activities on the Nigerian bourse, shows that MTN Nigeria transacted a total of 2,284 million units of shares valued at N526.46 million.
Meanwhile, MTN Nigeria has announced the appointment of Mazen Mroue as a Non-Executive Director on its Board.
Uto Ukpanah, MTN’s Company Secretary in a statement said Mroue’s appointment takes effect on June 1st 2023.
According to the statement, Mroue comes to the role with over 25 years of Senior and Executive Management experience in Telecoms, Information Technology, and Digital and Mobile Financial Services.
“This is to inform the Nigerian Exchange Limited (NGX), the investing public and other stakeholders that the Board at its meeting held on Thursday, 26 May 2022 approved the appointment of Mazen Mroue as a Non-Executive Director of the Company effective 1 June 2022,” the statement reads.
“Mroue has over 25 years of Senior and Executive Management experience in Telecoms, Information Technology, and Digital and Mobile Financial services, gained across various markets in Africa, the Middle East and Europe. Mr Mroue is currently the MTN Group Chief Technology and Information Officer,
a role he assumed on 1 February 2022. In this role, he is responsible for technology strategy, governance and implementation. Before that appointment, he was the Chief Operating Officer (Coo) of MTN Nigeria from August 2018 until 31 January 2022 and also served on the Board of MTN Nigeria Foundation Limited by Guarantee.
“Mroue began his professional career in 1996 as a Systems Engineer and since joining MTN Group in 1998 he has held various senior positions within the Group’s operations. He was the Chief Information Officer & Head of Enterprise Business of MTN Ghana. He also served as the Chief Executive Officer (CEO) of MTN Liberia and MTN Uganda, and CO0 of MTN Irancell from July 2014 to July 2018 and concurrently served as a Non-Executive Director of MTN Cyprus from 2015 to July 2018.
He holds a Master’s degree in Engineering, Intellectual Systems and Networks. He is also certified in Leadership Development and Executive Finance from Harvard Business School and INSEAD respectively.
