MTC hands over huge dividends to shareholders

08 Mar 2014 07:00am
WINDHOEK, 07 MAR(NAMPA) - Mobile Telecommunications Limited (MTC) on Friday handed over dividends worth over N.dollars 380 million to its two primary shareholders.
MTC's two shareholders are the Namibia Post and Telecom Holdings Group (NPTH) and Portugal Telecom (PT).
MTC is owned 66 per cent by NPTH, which in turn is fully owned by the Namibian Government.
A further 34 per cent of MTC is owned by PT.
The NPTH received a dividend of N.dollars 253 million and PT N.dollars 131 million.
These dividends were handed over by MTC chairperson, Dr. Itah Kandjii-Murangi.
MTC provides cellular access to the general public and business entities.
It is the largest mobile operator in Namibia, with over two million active subscribers.
MTC was established in 1994 and was the only cellular provider in Namibia at the time. Today its competitors in Namibia are TN Mobile and Telecom.
Before TN Mobile (formerly known as leo) and Telecom Switch entered the market over the past few years, MTC had the monopoly on mobile telecommunications and Internet access.