Today, October 24, 2016, MTN Group had its share soar by 4.47% on the Johannesburg Stock Exchange where it is listed. The increase is subsequent to the firm announcing good financial results for the third quarter of 2016, spurred by earnings from data that surged 21% now representing 26.4% of MTN’s turnover.

The group also announced it was ready to start recovering earnings from its business in Iran where they were frozen due to an embargo. In Nigeria, its main market, the firm better handled its poor performances. Its earnings in the West African country for Q3 2016 fell by 1.6% only compared to the second quarter, against -6.2% between Q1 and Q2 2016.

Despite faring relatively well, the group is still threatened by a new situation which could impact its financial performances. Indeed, Nigeria’s senate accuses MTN to have transferred, illegally, $14 billion from the country, with the complicity of some banks. Due to the accusation, the group’s shares slumped and its market capitalization, on Oct. 21, 2016, reached its lowest in the past decade.

Idriss Linge