MTN gets approval from regulators to buy back shares

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Scancom PLC (MTN Ghana) has received approval from the Regulator, Securities and Exchange Commission (SEC) to buy back over one  million shares of applicants who failed to provide sufficient personal information to complete their Know Your Customer (KYC) requirements under the Company’s Initial Public Offer.

It will be recalled that shareholders of MTN Ghana at an Extraordinary General Meeting (EGM) held on Thursday, December 3, 2020, gave the company the approval to buy back shares of applicants with incomplete personal information at the IPO price of GHS 0.75. This means that all such applicants will receive a refund of their initial purchasing money and dividends accrued since the IPO.

Applicants who did not provide sufficient KYC information can check the status of their account by visiting to update their records and upload a copy of their valid ID card.

Before the buyback commences, MTN Ghana is making a final appeal to shareholders to take advantage of the notice period to complete all outstanding account information.

The notice period ends on 23 February 2021.

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