Pan-African mobile carrier MTN Group has selected JPMorgan Chase & Co to act as its advisor on the planned separation of its financial technology business Fintech, people with knowledge of the matter were reported as saying. The process is expected to complete by H2 2022 with the group considering a number of possible options, including bringing in...
MTN SA has announced a ramping up of investments to modernise existing and deploy new network infrastructure across Limpopo and Mpumalanga, South Africa. The company says ultra-rural villages such as Mtititi and Ga Marishane will see benefits from the investment. The $56.4-million investment will go toward MTN’s “Modernisation of Network South Africa project” (MONZA) as...
South African multinational mobile telecommunications company MTN said it will spend over ZAR 620 million (USD 42.25 million) in the largest province in the country Northern Cape and the country’s judicial capital Free State on network expansion and 5G drive. According to a press release from Africa’s largest mobile network operator, the company will focus...
Ericsson has announced the signing of a contract with MTN Group for the deployment of mobile financial services in Sudan. The Swedish vendor says it is providing MTN Sudan with a ‘flexible, reliable and efficient m-commerce solution’ that includes the Ericsson Wallet Platform, systems integration, operational support, and solution development. The solution will provide a more agile and compliant...
Pan African mobile phone operator MTN Group’s net profit for the year ended December 31 fell by 13 percent despite a $77 million gain on the sale of its 12.95 percent shareholding in the Uganda subsidiary. Audited financial statements show the South Africa-based telco’s profit after tax declined by 13.17 percent to $1.12 billion from...
MTN South Africa is aiming to reach 25% coverage of South Africa’s population with next-generation 5G infrastructure by the end of the year, and 60% by 2025. This is according to the company’s CEO, Charles Molapisi, who was speaking on a conference call with investors on Friday following the conclusion of communications regulator Icasa’s auction of spectrum...
Africa’s largest telecom group MTN SA has announced a further investment of $46.4-million (R700-million) in order to modernise existing, and deploy new, network infrastructure across the KwaZulu-Natal province in South Africa. The $46.4-million investment, which is an addition to the $33.17-million (R500-million) invested in 2021, will go toward MTN’s “Modernisation of Network South Africa project”...
Airtel, MTN and a dozen other Fintech companies have secured payment system and payment service permits in Uganda after the country’s National Payments System was gazetted this month. African countries are fast-tracking the provision of permits to Fintech companies to deepen financial inclusion and allow them to tap into the growing uptake of electronic payments...
The MTN Group has committed to support a bi-national conference for businesses operating in Nigeria and South Africa. The operator reaffirmed its commitment to its two biggest markets following a visit by MTN Nigeria Chairman Ernest Ndukwe and MTN Nigeria CEO Karl Toriola to the Group’s headquarters in Fairland, Johannesburg. Nigerian High Commissioner to South...
Many telecom operators on the continent are moving towards asset relief models by entering into sale-leaseback agreements for telecom towers with specialized companies. The tower sale operation launched in 2020 by MTN South Africa is gradually entering its finalization. IHS Towers has obtained regulatory approval from the Competition Commission of South Africa (CompCom) for the acquisition...
