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MTC to spend over N$4m on IPO staff

2021-09-14  Staff Reporter

MTC to spend over N$4m on IPO staff

MTC recently announced its Initial Public Offering (IPO) will require temporary workers for four months. For this purpose, the company expects to employ 100 short-term staff for which it will spend about N$4.2 million. MTC hopes to raise between N$3 billion and N$3.5 billion during the IPO when it makes its shares available on the Namibia Stock Exchange at the beginning of November.

In a statement issued late last week, MTC stated it will employ 100 Namibians temporarily for four months to assist the telco through with its IPO process.

“The recruitment will cost MTC N$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,” read the statement from MTC spokesperson, Tim Ekandjo. 

Ekandjo added that with the rampant scourge of Covid-19 and its dent on the economy, the employment opportunity, although temporarily, befits and will be welcomed by qualifying youth. He noted that the 100 ambassadors will be trained and tasked to do public education on MTC’s listing process, which started on 6 September 2021. 

Key to their duties will be to spearhead the much-anticipated public offer through which investors can apply for shares, as from 20 September 2021 and close on 1 November 2021. 

“Although these jobs are temporary, for only four months, it gives these young people valuable work experience that they can use to bolster their CVs 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 Programme, we are indeed happy to create over 100 new jobs as part of the listing process. These jobs are unfortunately not permanent as they will provide relief and assistance during this hectic IPO process where more hands will be required on deck,” Ekandjo explained. 

He continued that MTC is cognisant of the fact it is a highly sought-after employer because of its rich Employee Value Proposition to all its ambassadors.

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$3 000 per month. 

2021-09-14  Staff Reporter

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