17th January 2021

MTN Zambia partners with National Pension Scheme Authority

MTN Zambia has partnered with the National Pension Scheme Authority (NAPSA) through a share placement that has seen NAPSA hold 8% stake in MTN Zambia making the number one telecommunications giant a truly Zambian company.

The partnership will bring significant benefits not only to NAPSA and its members and MTN and its subscribers, but also to the general public as a result of the numerous economic benefits brought about by improved telecommunications and digitalisation. NAPSA Director General, Yollard Kachinda commented:

“Zambia has in the recent years seen some significant growth in mobile telecommunications and digital technology. Mobile data has transformed the way people conduct their day to day activities such as buying and selling of products and services. A mobile phone is no longer just a tool of communication, but an important component in trade and commerce and it is helping to reshape the way we conduct business,” said Mr. Kachinda.

The Director General said the extension of network coverage to remote areas was enhancing financial inclusion by extensive mobile money usage.

“Because of the increased network coverage across the country, people can easily send and receive money. This is helping people to access some of their basic needs, including food and health services without having to move long distances to access their money.

He reiterated the importance of the development of telecommunications technology in pension administration.

“For us at NAPSA telecommunications technology has not only helped us to drastically improve service delivery to our members through introduction of mobile-based services but has also enhanced efficiency in the overall management of the scheme, leading to increased customer satisfaction. It is for this reason that we have put telecommunications as a key growth sector in our investment strategy,” he said.

And MTN Zambia Chief Executive Officer, Mr. Bart Hofker said, “MTN Zambia’s partnership with the NAPSA was a demonstration of the shared vision with the Zambian government to make the telecommunications company a truly Zambian owned company and to continue to contribute to the Zambian economy.”

He said,  “MTN Zambia is committed to partnering with local shareholders to ensure that the benefits of our investment in Zambia are shared with Zambians and we have now become truly Zambian.”

He added, “As part of our undertaking to the Zambian Information, Communications and Technology Authority (ZICTA),  8% of our shares are now held by NAPSA and this was done through a private placement process. As MTN Zambia, we are always looking out for innovative ways of giving back to our citizens because we realise that, in this highly competitive industry, Zambian citizens are more than key and they are simply the reason for our success as MTN Zambia,” said Mr. Hofker.

The MTN Zambia CEO further stated that MTN was contributing to government’s vision of achieving universal access and financial inclusion through usage of a broad range of quality and affordable financial services that meet the needs of individuals, enterprises and business.

“MTN Zambia is proud to announce that we have signed up over 17 000 Merchants accepting mobile money payments across the country and 50 000 Mobile Money agents providing mobile money services to the Zambia citizens,” said Mr. Hofker.

MTN Zambia and NAPSA further acknowledges the support rendered to the private placement process by the transactional advisers namely: Stanbic Bank Zambia Limited, Corpus Legal Practitioners and Eric Silwamba, Jalasi and Linyama Legal Practitioners.

Source: MTN Zambia

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