MTN Group to dispose of 15% stake in Nigerian subsidiary
Wednesday, 01 April 2020 15:59
Ralph Mupita, Head of MTN Group, announced the company plans to sell 15% of its stake in MTN Nigeria. If the operation is completed, MTN will hold 64% in the subsidiary.
In an interview with Bloomberg, Mr. Mupita said the move is part of the Asset Realization Program (ARP) - launched by MTN Group in March 2019- to simplify portfolio, reduce debt and risk, improve general returns and also realize a capital of at least R15 billion over 3 years.
Under this program, MTN sold stakes in ATC Ghana to American Tower Corporation for R900 million, and shares in Ghana Tower Interco B.V. and Uganda Tower Interco B.V. to AT Sher Netherlands Cooperatief U.A. for $523 million. The company has also divested interest in the investment fund Amadeus and Travelstart.
At the end of the financial year which ended on December 31, 2019, MTN Nigeria contributed 30.77% of the MTN Group's total revenue of R151.46 billion.
Live News
-
Togo aquaponics startup turns to soilless farming to face climate risks
14:02
-
Inclusive employment in Africa improves but remains marginal
13:51
-
Senegal updates media watchdog to include digital platforms
13:34
-
Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
13:19
-
Cameroon ties passports, vehicle titles to tax compliance in 2026 budget
10:57
-
Cameroon cuts forestry taxes to promote sustainable logging
10:49
-
Togo Opens Professional Master’s Programs at Atakpamé Teacher Training College
05:15
-
Morocco Uses Satellite and RFID to Monitor Fishing Vessels
05:11
-
Senegal to Replace CNRA With New Digital-Age Media Regulator
05:00
-
Togo Ranks as West Africa’s Top Business Climate Performer in B-Ready 2025
04:54
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Collaborative programs are emerging across Africa to promote inclusive employment Public, private, and international actors are increasingly...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights limits in malaria control efforts. Surveillance against...
2026 budget introduces a 25%–35% cut in the annual forestry fee Incentive targets certified operators to curb illegal logging Past underreporting cost...
Guizhou Tyre plans a nearly $300 million tire plant in northern Morocco The factory will produce 6 million passenger vehicle tires per year The...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...