MTN Nigeria has officially rebranded and unveiled a new logo.
The company announced this in Lagos on Wednesday during a press briefing.
It is the second brand overhaul since the MTN Group was founded in 1994. In 2004, the changes made to the brand resulted in MTN taking ownership of the colour yellow that is now synonymous with the company.
The firm’s new logo forgoes the italics, the red underscore, and the solid coloured oval present in the previous logo. It now has a minimalist look that retains the oval (now represented as a solid outline) with the letters M-T-N nestled in it. These can be used against a sunshine yellow or plain white background in either black or yellow font colours.
The company said its rebranding is an extension and visual representation of MTN Group’s “refreshed strategy”, dubbed Ambition 2025 and premised on leading digital solutions.
The Chief Executive Officer, MTN Nigeria, Karl Toriola, said the rebranding exemplifies MTN’s commitment to continuously creating value for all its stakeholders.
“We want to play our part in harnessing the potential and supporting the progress of our people by driving digital and financial inclusion. It is a well-known fact that the youth are central to achieving this potential. So while we remain focused on all our customers and stakeholders, our brand evolution demonstrates an enhanced focus on the youth,” he said.
MTN Nigeria Communications Plc (MTNN) in January reported turnover in the sum of N1.7 trillion for full-year 2021.
The Nigerian operation of South African-owned MTN Group attained the new height after the number of its active data users surged by 1.7 million to 34.3 million, helping income from data sales increase by 55.3 per cent to N516 billion.
MTN cited an extension of its coverage areas for 4G services October through December as the catalyst for the higher earnings from data.
Relative to its figure for 2020, revenue for last year grew by 22.9 per cent.
Last November, the wireless carrier secured a permit from the Central Bank of Nigeria to start a payment service bank, and that will give it the latitude to offer many of the services performed by commercial banks, the notable exceptions being disallowance from granting credit and offering foreign exchange functions.
MTNN conducted its initial public offering in December, when it put up 575 million shares for sale to investors, about two and a half years after it listed by introduction on the Nigerian Exchange.
Nigeria is the biggest market of the MTN Group, responsible for about one-third of its revenue.