Shares of Airtel Africa and MTN Nigeria hit all-time highs

ABUJA: Shares of MTN Nigeria and Airtel Africa hit all-time highs on Tuesday, lifting Nigeria’s main stock index, after the central bank paved way for the telecoms companies to operate their mobile money services in Africa’s most populous country.

MTN Nigeria and Airtel Africa rose for the second straight day after they were granted in-principle approval last week by Nigeria’s central bank for the mobile money licence, which had been pending for more than two years since they applied.