HSBC, one of the biggest financial services organisation in the world, says Zainab Ahmed, Nigeria’s finance minister’s comments are encouraging for the growth and valuation of MTN Group.
In one of it investor advisory reports published in November, HSBC said the minister’s comment at the 24th Nigerian Economic Summit (NES24) is a positive development for the telco.
HSBC highlighted three positive developments, for which it advised investors to hold or buy MTN’s shares.
“We look at 3 key positive developments: (1) Nigerian Minister of Finance supportive comments on the USD8.1bn repatriation issue,” the bank’s global research arm said.
“(2) launch of Payment Service Banking (PSB) licences in Nigeria and (3) consortium USD1.25bn investment into Airtel Africa at 7.4x EV/EBITDA.”
Speaking at the summit in Abuja in October, the minister said the Central Bank of Nigeria…
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