Author: Loni Prinsloo

MTN Group is considering selling its stake in Iran’s ride-hailing app Snapp as it trims its e-commerce portfolio and plans an exit of the Middle East.

MTN Group is planning to sell part or all of its R4.2-billion interest in Jumia Technologies as it looks to pay down debt and enter new markets, according to people familiar with the matter.

The Zimbabwean businessman is seeking buyers for 20% to 34% of Liquid Telecommunications Holdings for as much as R10-billion, though Covid-19 is frustrating those efforts, sources say.

The big deals that Prosus should be winning are slipping through its fingers. It’s not a great start for a company set up to be a deal machine.

The United Nations is partnering with MTN, Vodacom, Orange and Airtel on a mobile data platform that delivers coronavirus-related information around Africa.

Telkom is looking at ways to generate more value from its mobile tower business, including a potential sale or spin-off, CEO Sipho Maseko said.

Helios Towers plans to use about $450-million in newly raised funds to expand into African countries, reviving an expansion plan that was put on hold by the Covid-19 pandemic.

Pele Green Energy plans to expand its wind and solar projects in Africa after raising capital with the help of Investec, the South African and UK specialist bank.

Naspers-backed cryptocurrency platform Luno is in talks about expanding in Kenya and Ghana to extend its African footprint, as bitcoin rallies 99% over the past two months amid the coronavirus pandemic.

Teraco Data Environments plans to invest R4-billion in Africa to meet rising demand for data as the continent’s governments battle the coronavirus.