MTN Group will exit its operations in the Middle East to become an Africa-only-focused telecommunications operator, CEO Rob Shuter announced on Thursday.
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MTN South Africa is feeling the impact of the lost revenue from former roaming partner Telkom, with the company’s service revenue declining by 2.5% year on year despite a strong operational performance.
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.
Telkom Kenya said on Wednesday it was no longer pursuing a proposed joint venture transaction with the Kenyan unit of India’s Bharti Airtel.
Cell C said on Tuesday that it is making “good progress” in what it calls a “complex recapitalisation” aimed at ensuring the financially troubled mobile operator survives the debt noose around its neck.
MTN Group is opening an application programming interface marketplace for software developers. Called Chenosis, it’s meant to allow developers and businesses to discover and subscribe to open APIs.
Seacom will more than double the capacity on its fibre-optic network by the end of August as demand for broadband grows across Africa.
Rob Shuter, the outgoing president and CEO of MTN Group, will join BT Group as CEO of the British company’s Enterprise unit and will become a member of BT’s executive committee.
MTN Group shares fell on the JSE on Friday after Africa’s largest telecommunications operator by subscribers said it was scrapping an interim dividend payment to shareholders.
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.