MTC IPO process creates 100 temporary jobs
Summary
Mobile Telecommunications Company (MTC) has announced that it will temporarily employ 100 Namibians for four months to assist the telco through with its Initial Public Offering (IPO) process.MTC has been cleared for a public listing by the main board o…
Mobile Telecommunications Company (MTC) has announced that it will temporarily employ 100 Namibians for four months to assist the telco through with its Initial Public Offering (IPO) process.
MTC has been cleared for a public listing by the main board of the Namibian Stock Exchange (NSX) in August 2021, where it stated that state holding firm Namibia Post and Telecommunications Holdings Limited would retain its 51 per cent stake in the operator, while the remaining 49 per cent of the ordinary shares have been offered to the general public.
MTC Chief Human Capital and Corporate Affairs Officer Tim Ekandjo in a media statement on Sunday said the recruitment will cost MTC N.dollars 4.2 million to achieve its listing order, but in the process also temporarily dent the unemployment numbers of Namibia’s economically active population which continues to pose major social and economic risks.
‘With the rampant scourge of COVID-19 and its dent on the economy, this opportunity, although temporarily, befits and will be welcomed by qualifying youth. The 100 ambassadors will be trained and tasked to do public education on MTC’s listing process, which started on Monday 6 September 2021,’ added Ekandjo.
Key to their duties, the 100 ambassadors will spearhead the much-anticipated public offer through which investors can apply for shares, from 20 September 2021 until 01 November 2021.
“Although these jobs are temporary, for only 4 months, it gives these young people valuable work experience that they can use to bolster their CV’s and an opportunity to create a relationship with MTC for consideration when job openings occur in the future. In addition to the many job opportunities, we continue to create through the MTC Namibia National Internship Program, we are indeed happy to create over 100 new jobs as part of the Listing Process,’ Ekandjo explained.
Meanwhile, the company has since 2019 offered internship opportunities to 407 interns through the MTC National Internship Programme and has committed to placing 160 interns per annum with a monthly allowance of N.dollars 3000 per month.
Source: The Namibian Press Agency