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03 November 2015


MTN shares suspended by JSE

According to a report via Fin24, MTN had confirmed that its mobile network’s shares on the Johannesburg Stock Exchange (JSE) had been suspended. The report revealed that the telecom giant’s shares were suspended on 02 November, 2015.

“We take note of the JSE’s decision to suspend MTN’s shares,” he said according to Fin24.

The JSE, in its own announcement, confirmed the suspension of MTN shares at midday on Monday.

“The JSE has halted trading in MTN Group Limited shares pending an announcement from the company,” said the stock exchange.

In the report it states that MTN’s share price has been under pressure in the last week after it confirmed last week that it’s been fined $5.2bn by Nigerian regulators for allegedly not disconnecting up to five million unregistered SIM cards.

The Nigeria Communications Commission (NCC) said unregistered SIM cards “pose a grave security risk to the country” and used the recent kidnapping of the former finance minister, Chief Olu Falae, as an example of this risk. It said the kidnappers used MTN SIM cards and MTN was unable to provide any registration data for those SIMs.

The halt in trading also came after MTN’s share price fell by around 8% in trade on Monday amid an unconfirmed report by Lagos-based Vanguard on Monday morning said that MTN had agreed to pay the $5.2bn to Nigerian regulators in staggered payments.

According to Fin24, Mobile network MTN resumed trading on the Johannesburg Stock Exchange (JSE) on Monday afternoon after trade in its shares were suspended in the morning.






Bridget Bhengu: Senior Manager - PR and Communications, MTN SA

Cell: 083 212 1964 / E-mail:

Mamello Raborifi: PR Specialist, MTN SA

Cell: 083 214 5681 / E-mail:


Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 June 2014, MTN recorded 215 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at and