Author: Loni Prinsloo

MTN Group, facing a combined $10-billion in claims from Nigerian authorities, has said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.

MTN Group is considering a replacement for long-time chairman Phuthuma Nhleko, with former deputy finance minister Mcebisi Jonas lined up as his possible successor.

South African-based private equity firm Harith General Partners is buying into a fibre-optic cable network in Malawi as it invests more than $1-billion (R15.3-billion) in infrastructure on the continent.

MTN Group CEO Rob Shuter said the company is committed to Nigeria even as it considers how to respond to an order to return $8.1-billion in repatriated funds.

Vodacom is negotiating a wireless network sharing deal with Telkom as a replacement for former partner Cell C, according to people familiar with the matter.

Naspers is working to reduce its exposure to Johannesburg’s stock exchange as Africa’s largest company seeks to narrow its valuation gap with flagship asset Tencent Holdings.

Cell C is planning a share sale in Johannesburg by the first quarter of 2020 as South Africa’s third largest wireless company seeks funds for acquisitions.

MTN Group is exploring a sale of shares in African online retailer Jumia and values the company at as much as US$1-billion, according to people familiar with the matter.

Helios Towers is investing tens of millions of dollars in the Democratic Republic of Congo and looking for acquisitions as the African phone-tower operator seeks to move on from a scrapped initial public offering earlier this year.

MTN Group has warned that renewed US-led economic sanctions against Iran had once again tied up funds in its second biggest market, scuppering plans to turn the country into a cash cow after years of troubles.