{"id":3122,"date":"2021-10-06T15:46:24","date_gmt":"2021-10-06T15:46:24","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste"},"modified":"2021-10-06T16:01:57","modified_gmt":"2021-10-06T16:01:57","slug":"priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste","title":{"rendered":"Priority of MTC listing is to develop local financial sector – Jooste"},"content":{"rendered":"

Africa-Press<\/a> – Namibia<\/a>. <\/strong><\/span>The first objective of the planned listing of the country\u2019s dominant mobile telecommunications provider, MTC, is to develop the country\u2019s financial sector. This was the view of public enterprises minister Leon Jooste while responding to questions in parliament last week on the first-ever listing of a state-owned enterprise.<\/p>\n

\u201cCurrently, a significant amount of savings leave the country for investment outlets in other countries. These savings can now be invested at home in MTC. Through our pension funds and insurance policies, many Namibians will now become shareholders of MTC,\u201d he stated. The questions in parliament were raised by Namibia Economic Freedom Fighters (NEEF) parliamentarian Kalimbo Iipumbu, to which the minister explained that once listed, government will continue to receive dividends from MTC for its 51% shareholding. This is if and when dividends are declared by MTC\u2019s board of directors. Jooste added that once listed, government\u2019s 51% shareholding will appreciate in value if MTC\u2019s share price increases on the Namibian Stock Exchange (NSX) over time.<\/p>\n

He further clarified that government is not actively trading in shares. \u201cWhen the government acquired the remaining 34% shares through NPTH in MTC from Portugal Telecom, a licensing condition was placed on MTC by the Communications Regulatory Authority of Namibia (CRAN), whereby 49% had to be sold to outside investors and for MTC to list on the NSX.\u201d<\/p>\n

Furthermore, the listing has an objective such as to unlock maximum shareholder value and consequently liquidity for the fiscus, whereby full private sector participation is encouraged through the creation of investment opportunities by the state. Also, an additional objective is to broaden economic participation through ownership by ordinary Namibians in a profitable public entity.<\/p>\n

\u201cOn economic and social objectives, the listing aims to increase confidence in the government\u2019s ongoing public enterprise restructuring programme, and also to stimulate the local economy,\u201d stated Jooste.<\/p>\n

MTC shares went on sale for N$8.50 per share during the Initial Public Offering, whereby interested parties can only purchase a minimum of 200 shares.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The first objective of the planned listing of the country\u2019s dominant mobile telecommunications provider, MTC, is to develop the country\u2019s financial sector. This was the view of public enterprises minister Leon Jooste while responding to questions in parliament last week on the first-ever listing of a state-owned enterprise. \u201cCurrently, a significant amount […]<\/p>\n","protected":false},"author":84,"featured_media":3121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,16],"tags":[234,236,1479,635,233],"class_list":["post-3122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-develop","tag-jooste","tag-namibia"],"yoast_head":"\nPriority of MTC listing is to develop local financial sector - Jooste - Namibia<\/title>\n<meta name=\"description\" content=\"The first objective of the planned listing of the country\u2019s dominant mobile telecommunications provider, MTC, is to deve ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Priority of MTC listing is to develop local financial sector - Jooste\" \/>\n<meta property=\"og:description\" content=\"The first objective of the planned listing of the country\u2019s dominant mobile telecommunications provider, MTC, is to deve ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-06T15:46:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-06T16:01:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/10\/img-615dc8574858a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Priority of MTC listing is to develop local financial sector – Jooste\",\"datePublished\":\"2021-10-06T15:46:24+00:00\",\"dateModified\":\"2021-10-06T16:01:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\"},\"wordCount\":344,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/10\/img-615dc8574858a.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"develop\",\"Jooste\",\"namibia\"],\"articleSection\":[\"all news\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/priority-of-mtc-listing-is-to-develop-local-financial-sector-jooste\",\"name\":\"Priority of MTC listing is to develop local financial sector - 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