Is MTN Group on the verge of being chased out of its biggest market? Not a bit of it, according to CEO Rob Shuter.
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MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.
Nigeria wants to end a dispute with MTN Group over a claim that the carrier illegally transferred $8.1-billion out of the country, an indication relations between the two parties have started to thaw.
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.
MTN Group CEO Rob Shuter has warned that developments in Nigeria have complicated its plans for an initial public offering in the West African nation.
MTN South Africa has improved profitability on the back of a strong retail consumer business, though its enterprise segment is not turning around as quickly as had been hoped, putting pressure on service revenue growth.