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.
Browsing: Rob Shuter
MTN Group will exit its operations in the Middle East to become an Africa-only-focused telecommunications operator, CEO Rob Shuter announced on Thursday.
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.
MTN Group said on Thursday that it has topped 100 million active data customers – technically, 100 million Sims with an active data connection – for the first time.
The United Nations is partnering with MTN, Vodacom, Orange and Airtel on a mobile data platform that delivers coronavirus-related information around Africa.
MTN Group shares fell slightly on Monday after reports emerged that it was facing further claims in a US court that it paid protection money to terrorist groups in Afghanistan.
MTN Group said it is implementing cost control measures, focusing on mission critical expenses and enhanced oversight of expenditure, amid uncertainty over the impact of the Covid-19 pandemic.
MTN Group CEO Rob Shuter was paid out a sign-on bonus of just R17.8-million in March. This is a sizeable figure but it’s less than half of the value indicated in March 2017, at the time he was awarded the bonus.
MTN Group has announced a R250-million “relief package” in response to the Covid-19 pandemic across the 21 markets in which it operates.