MTN Group is pleased to announce that we have been recognised in two prestigious awards surveys in the past week, acknowledging our ongoing work to engage with capital markets stakeholders.

Our integrated annual report has once again been recognised in the ‘Excellent’ category at the 2024 EY Excellence in Integrated Reporting Awards, placing MTN amongst the top 24 JSE-listed companies. The survey evaluates the quality of integrated reporting and how companies convey their value creation journey to investors and other stakeholders.

Additionally, MTN was ranked first in eight categories for the telecoms, media and tech (TMT) sector in the 2024 Extel Developed Europe and EMEA Executive Team Awards, in a survey of leading global investment professionals.

The accolades, which recognise the best-rated Investor Relations (IR) and Executive teams, are based on more than 20 qualitative performance metrics in a survey of leading capital market stakeholders. Extel (formerly Institutional Investor Research) surveyed more than 2 000 buy-side and sell-side professionals, with more than 2 700 individuals from more than 1 300 companies nominated.

In our region (Europe, Middle East and Africa – EMEA), about 500 IR professionals and C-suite members from more than 330 companies were surveyed by over 400 investment professionals. The vote count for Emerging EMEA was up by a quarter from the previous year, highlighting the growing interest in providing independent feedback on corporate activities and engagement with the capital markets.

MTN was ranked first in all eight EMEA-TMT categories by shareholders/ investors and second on a combined basis that includes the sell-side. The categories are: Best CEO; Best CFO; Best IR Professional; Best IR Team;  Best IR Program; Best ESG Program; Best Investor/Analyst Day; and Best Company Board.

“One of MTN’s strategic priorities is to ‘create shared value’. Key to this is our engagement with stakeholders, including the investment community. We’re grateful for the acknowledgement of MTN’s efforts to engage transparently and consistently with our capital market stakeholders,” said MTN Group CFO Tsholofelo Molefe, adding: “Kudos to our IR team, which spearheads our efforts with the capital markets and continues to raise the bar in an industry where standards are high and keep getting better year after year.”

Thato Motlanthe, Acting Chief Corporate Affairs & Sustainability Officer and Executive for Investor Relations, MTN Group added, “We appreciate the recognition of our team’s commitment to continuous improvement and meeting the ever-evolving needs of the investment community and broader stakeholders. In driving this purpose, we deeply value the collaboration fostered with our leadership and colleagues as well as the enduring partnership and support of our stakeholders.”

In the Extel awards, MTN was also listed among the ‘Most Honored Companies’ survey for the EMEA region, placing 2^nd* in the TMT sector and within the top 10^* overall, out of more than 330 companies.

MTN remains committed to maintaining high standards in our endeavours to serve the needs of our investment community stakeholders.

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MTN Group acknowledges with deep sadness the passing of Sifiso Dabengwa, who served as the Group President and CEO from 2011 to 2015. Sifiso was a key figure in MTN’s 30-year journey and his contributions to both the company and the telecommunications industry are held in high regard.

During his tenure, Sifiso’s leadership was instrumental in guiding MTN through significant phases of growth and transformation. His strategic vision and deep understanding of the telecommunications sector were key to MTN’s success during this period.

Sifiso was respected not only for his professional achievements but also for his integrity, humility, and the respect he showed to all who worked with him. He was a mentor to many and a leader who exemplified the values of commitment and service.

Ralph Mupita, MTN Group President and CEO, said: “Sifiso’s impact on MTN and the broader industry was significant. His legacy will continue to inspire us as we move forward.”

The Board of Directors, the Executive Committee, and all MTN staff extend their heartfelt condolences to Sifiso’s family during this difficult time. Our thoughts are with them as they mourn the loss of a remarkable individual.

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How can we turn the tide against the devastating impacts of climate change in Africa? How can we empower those most vulnerable to its effects to become the architects of a sustainable future? The answer lies in the potential of our continent’s youth.

In the face of the escalating climate crisis, it’s crucial to nurture and empower this potential.

At MTN, we believe that investing in the ingenuity and passion of Africa’s youth is not just a moral imperative but a strategic one. They are the generation that will inherit the consequences of our actions today, and they are the ones who hold the keys to a sustainable tomorrow. This is at the heart of the PachiPanda Challenge, an initiative with the World Wildlife Fund (WWF) that seeks to ignite a wave of youth-led environmental innovation across Africa.

“Over 60% of Africa’s population is under the age of 25. By empowering them, we are not just investing in their future, but in the future of our planet. Africa’s youth have the creativity, passion, and resilience to lead the charge against climate change, and the PachiPanda Challenge is our way of equipping them with the tools to do so,” said Nompilo Morafo, MTN Group Chief Sustainability and Corporate Affairs Officer.

By encouraging young people to come up with ideas to address unsustainable environmental practices, the PachiPanda Challenge empowers them with the tools, resources and mentorship they need to turn their innovations into reality. By focusing on green skills and sustainable tech solutions, the challenge highlights the importance of equipping young people with the knowledge and expertise needed to tackle the complex environmental challenges of our time.

The inaugural challenge in Zambia in 2022 and 2023 showcased promising solutions, including Isaac Mwanza’s EcoBuild, a startup that produces sustainable construction materials from copper waste. This addresses waste while providing a more affordable and environmentally friendly alternative to traditional building materials. Other finalists presented equally compelling ventures, including community recycling programmes and inventive ways to generate renewable energy from waste.

Building on this success in Zambia, MTN and the WWF are expanding the PachiPanda Challenge across the continent, adding South Africa and Nigeria to the programme. The challenge will culminate in a grand finale where the most promising ideas from each country will compete for recognition and support. Each stage of the challenge will be tailored to address the specific environmental concerns of each region, ensuring that the solutions developed are contextually relevant.

The structure of the PachiPanda Challenge is designed to nurture and support young entrepreneurs throughout their journey. It starts with an annual competition that seeks out innovative, tech-enabled solutions and businesses focused on Africa’s climate challenges.

This is followed by a support programme that includes idea-generation workshops, training sessions, mentorship and business case development. Finally, a multi-stage selection process will ensure that the most promising ventures receive the recognition and support they need to scale their impact.

The PachiPanda Challenge is a testament to our commitment to empowering young people and fostering a sustainable future for Africa. By investing in our youth, we are investing in the future of our planet. Let us celebrate the power of young people to drive change and create a world that is both prosperous and sustainable and that leverages technology to address conservation challenges.

Stay tuned for updates from our participating OPCO and find out more at our website https://www.mtn.com/pachipanda-challenge/

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In the first half of 2024, MTN Group delivered strong commercial momentum, executed key strategic initiatives, and sustained the strength and resilience of the balance sheet. In constant currency, data service revenue increased by 21% in the six months to 30 June 2024 and fintech service revenue climbed by 27%.

In line with our Ambition 2025 strategy, we made good progress to further increase the level of local ownership of MTN Ghana and MTN Uganda, with gross proceeds of R1.7 billion. The Group also completed the orderly exit of operations in Afghanistan and Guinea-Bissau, as part of portfolio optimisation and simplifying the group.

At the end of June 2024, MTN had 288 million subscribers across 18 markets. Of these, 150 million were active data subscribers – up more than 9% – who lifted data traffic on MTN’s network by more than a third to 9 054 petabytes. 

At 66 million, the number of active Mobile Money users was also more than 9% higher, boosting MTN’s fintech transaction volumes by 18% to 9.7 billion in the period.

To support this continued acceleration in demand, MTN committed over R13 billion in capital expenditure to expand our 4G and 5G networks and business IT systems. The Group’s balance sheet remained strong, with the holding company leverage ratio at 1.6x, and an improved mix of US dollar debt to rand debt at 22:78, well within our target mix of 40:60.

The strong underlying performance was masked by the impact of weaker currencies – most particularly the naira against the rand – as well as the ongoing conflict in Sudan on the Group’s reported results.

“Although the commercial momentum and strategy execution were solid in H1, macro headwinds impacted reported results,” said MTN Group President and CEO Ralph Mupita. “The sharp devaluation of the naira over the period had the most significant impact on reported results.”

Impacted by the naira devaluation, the translation into the reporting currency and the conflict in Sudan, adjusted headline earnings per share (HEPS) decreased by 50% to 373 cents and adjusted return on equity (ROE) declined by 4.2 percentage points to 20.2%.

“MTN South Africa, which has now completed its network resilience investment, demonstrated encouraging progress from Q1 24 to Q2 24 in terms of topline growth and earnings,” he said, adding that the investment positioned it to provide an average network availability of more than 95% under stage 6 loadshedding. At the end of June 2024, network availability was 99%, supported by reduced loadshedding in Q2 24.

“MTN Nigeria delivered a strong underlying performance, despite the severe macro impacts on its financial performance,” Mupita said, noting good progress in key initiatives including acceleration of revenue, optimisation of capex and the reduction of its US dollar-denominated obligations.

MTN Nigeria recently concluded the re-negotiation of its tower contracts with IHS and ATC. The revised contracts will support earnings and cashflow development in the business as part of the initiatives to resolve the negative equity position of MTN Nigeria. Discussions around tariff increases for voice and data continue with the authorities in Nigeria.

MTN Group and MTN Zakhele Futhi also announced through a joint statement the intention to extend the Broad-Based Black Economic Empowerment scheme by up to three years, subject to shareholder approvals. MTN Group and MTN South Africa each have a level 1 B-BBEE contributor status.

Looking ahead, MTN – which this year celebrates 30 years in the business – reconfirmed its medium-term guidance and anticipates paying a full year dividend for FY24 of 330 cents per share.

“We will continue on the execution of our Ambition 2025 strategy to drive growth and unlock value for all stakeholders over the medium term,” said Mupita. “The near-term macro backdrop continues to be challenging across our markets; GDP, inflation and currencies are expected to improve into 2025 across key markets.”

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Following the announcement last week that IHS Holding Limited (NYSE: IHS) (“IHS Towers” or the “Company”) and MTN Group (JSE: MTN) had renewed and extended communications infrastructure deals in Nigeria, as well as completing the renewal of all contracts across IHS Towers-MTN markets recently, the companies said on Tuesday that with the commercial relationship now firmly established for the next decade, they will now work constructively to find a mutually agreeable resolution to governance issues previously raised.

On 7 August 2024, the companies announced the agreement to renew and extend all Nigerian tower Master Lease Agreements until December 2032. The contracts include new financial terms that provide what the parties believe to be a more sustainable split between local and foreign currency. With this, IHS Towers and MTN Group have now completed the renewal of approximately 26,000 MTN tenancies on IHS Towers infrastructure across six African markets – Nigeria, Rwanda, Côte d’Ivoire, Cameroon, Zambia and South Africa.

MTN Group owns approximately 26% in IHS Towers, a stake which pre-dates the tower company’s listing on the New York Stock Exchange in 2021.

MTN Group President and CEO Ralph Mupita said: “The renewal of the various contracts across our markets into the next decade put MTN operations in the respective markets onto a more sustainable footing. We remain focused on ensuring our networks are well invested, have high availability and have the headroom to meet the growing and structural demand for data going into the future. These renewals are key to those priorities. We look forward to working constructively with IHS on the outstanding governance issues now that commercial arrangements have been concluded.”

Sam Darwish, Chairman & CEO, IHS Towers, said, “As our largest customer and longest serving partner, we are proud to have completed the renewal of all tenancies with MTN Group in our African markets. Today, we reinforce our strategic relationship and commit to increased operational stability, by securing our revenue streams into the next decade, and leveraging our shared innovation to deliver critical connectivity and support digital inclusion across the African continent. We are excited by the next phase of our commercial partnership and welcome the opportunity to work constructively for the benefit of the end user.” 

Building on their 20+ year relationship as commercial partners, both companies will leverage their shared operational excellence and engineering expertiseto meet the end users’ increasingly sophisticated data demands. Together, IHS Towers and MTN Group have a track record of navigating complex operating environments and challenging macroeconomic conditions to deliver connectivity crucial to economic growth and digital inclusion.

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Across continents and cultures, a new generation of women is rising to become leaders in the rapidly evolving landscape of Information and Communications Technology (ICT). On International Youth Day – celebrated annually on the 12th August – we are reminded of the strength and potential of young people across the African continent. This day serves as a reminder of the resilience and determination of young individuals who continue to overcome obstacles and create a positive impact on society.

We remain inspired by the young, up-and-coming talent within our own ICT-ecosystem, and as a company committed to fostering innovation and breaking down barriers, MTN’s Global Graduates program amplifies the voices and accomplishments of these trailblazers. Their journeys highlight the transformative power of mentorship, the ongoing challenges of bias, and the unwavering determination to inspire the next wave of female tech leaders.

The spark of inspiration: mentors and role models

The impact of influential figures in shaping these women’s paths is undeniable. Rubby Fevlo, an MTN Ghana Graduate Trainee, attributes her passion for technology to the encouragement of her primary school headmaster and the mentorship she received during her national service year at MTN.  While Ivy Sebaeng, an MTN South Africa Commercial Modelling Analyst, had to carve her own path in the absence of readily accessible female role models, she advocates for showcasing examples of success for young women: “If you can see it, you can be it.” This lack of visibility in the early days of her career drives her to be the inspiration for others.

Other graduates echo the significance of guidance and support. Alice Mukamihigo, a Packet Core Senior Engineer in MTN Rwanda, found a pivotal mentor in her first supervisor: “She encouraged me constantly, making me believe that if I put my mind to it, I could do anything.” This belief in her abilities propelled her to advance to senior positions. For Benita Biju, currently within MTN Bayobab in Dubai, an iconic historical figure provides inspiration: Hedy Lamarr, an actress and inventor whose technological breakthroughs during World War Two set the stage for modern-day Wi-Fi and Bluetooth. Lamarr’s defiance of societal expectations motivates Benita to pursue her own path while contributing to the ever-evolving tech landscape.

Overcoming bias, building resilience

Despite significant strides, women in ICT still face hurdles rooted in gender bias. Enuma Anyanwu, an analyst at MTN Nigeria, powerfully articulates the pressure of representing an entire gender:  “I have to be the best – if I fail, they might not let other women in.  I feel like I have to represent the entire female gender, and that’s a lot of pressure.” Sakhile Simelane, an engineer in MTN Eswatini, shares the struggle of confronting the assumption that women, especially mothers, are less dedicated or capable in their work. For young women like Benita Biju, the challenge manifests in subtle ways, such as having her ideas dismissed because of her age and gender. These diverse experiences illuminate the ongoing need for organisations to take active measures to combat unconscious and conscious biases that hinder the advancement of women in STEM fields.

The power of community and support

Amidst challenges, the importance of a supportive community and inclusive environment shines through. Bendia Wesseh, part of the MTN Liberia team, credits the MTN Women organisation, saying “It provided me a space to thrive, offering encouragement and opportunities to grow my career.” Enuma Anyanwu emphasises the role of female-focused initiatives: “Representation matters, and having visible women in STEM fields is crucial, creating a supportive community and flexible work arrangements help us thrive.” These inclusive measures not only attract talented women but also foster a culture where they can succeed.

Paying it forward: shaping the future of ICT

Conscious of their power to make a difference, each graduate expresses a deep commitment to inspiring future generations. Ivy Sebaeng encourages challenging stereotypes:   “Just doing what I do every day, being in this space, I feel I’m helping to show that women and young women can do this too.”  Alice Mukamihigo focuses on actively supporting others: “My role is to encourage, congratulate, and support whenever I encounter someone aspiring to join STEM.” Rubby Fevlo envisions sharing her experiences:  “There’s always room for more individuals to make meaningful contributions in ICT, regardless of what the perceived barriers might be.” This shared belief in mentorship and empowerment underscores their role as catalysts for change within the industry.

By sharing their stories and actively advocating for the next generation, these graduates embody the kind of leadership needed to pave the way for future women in tech.

MTN’s commitment: A connected, more inclusive future

MTN’s investment in these young leaders reflects a broader dedication to diversity and inclusion. The program’s focus on mentorship, professional development, and the celebration of achievements all contribute to the company’s goal of fostering a supportive and empowering environment where women can excel in ICT.

Empowering women in tech is about creating a world where young girls and women are not the exception but a powerful, thriving presence in the ICT industry. At MTN, we are committed to continuing our support for the next generation of women in tech, ensuring they have the resources, guidance, and opportunities to succeed and lead in the ever-evolving landscape of ICT.

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Telecel Group Mobile and MTN Group are pleased to announce the completion of the transfer of MTN Guinea Bissau (“Spacetel”) to Telecel, marking a new chapter in the telecommunications landscape of the West African country. Telecel Group Mobile assets are fully managed by Telecel Group.

The acquisition process, which was closely monitored and approved by the Autoridade Reguladora Nacional (“ARN”), signifies Telecel’s commitment to expanding its footprints in the West African region. With this acquisition by Telecel Group Mobile, Telecel Group reaffirms its dedication to expanding its management footprint in Africa and delivering high-quality telecommunications services to the people of Guinea Bissau.

MTN Group President and CEO Ralph Mupita expressed satisfaction with the completion of the transaction: “We are delighted to hand over the reins of MTN Guinea Bissau to Telecel Group, a company with a strong track record. This disposal aligns with our strategic priority to accelerate portfolio transformation. We thank our employees, customers and all stakeholders for their support over the years and are confident that Telecel will build on the solid foundation we have established in Guinea Bissau.”

Telecel Group CEO, Moh Damush, highlighted the significance of this acquisition by Telecel Group Mobile, “We are excited to officially welcome MTN Guinea Bissau into the Telecel family of managed networks. This is a testament to our commitment to the African market and our vision of connecting people through reliable and innovative telecommunications solutions. We are dedicated to providing exceptional services that will enhance connectivity and support economic growth.”

Regulatory Compliance and Future Plans

Telecel Group Mobile under the management of Telecel Group, has successfully fulfilled all the technical and financial requirements stipulated by the ARN, ensuring a seamless transition and continued adherence to the highest industry standards. The acquisition will not only enhance Spacetel service offerings but also introduce new technologies and infrastructure improvements to benefit the consumers and businesses in Guinea Bissau.

As part of its commitment to the local community, Telecel Group Mobile plans to invest in expanding network coverage, improving service quality, and launching new products tailored to the needs of Guinea Bissau’s diverse population. This strategic investment aims to encourage digital inclusion and drive economic development in the region.

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MTN Group is pleased to announce the appointment of Mohammed Rufai as Chief Executive Officer (CEO) of MTN Congo-Brazzaville and Ayham Moussa as Chief Operations Officer (COO) of MTN Nigeria, effective 1 September and 19 August 2024, respectively.

We also announce the voluntary early retirement of MTN Côte d’Ivoire CEO Djibril Ouattara and the departure of MTN Nigeria COO Hassan Jabber.

Mohammed Rufai is an accomplished professional with over 24 years of experience in ICT and an impressive track record in the telecoms industry. He joined MTN Nigeria in 2002 and subsequently moved to MTN Ghana, where he became Chief Technical Officer in 2015.

Currently, he serves as the Chief Technical Officer at MTN Nigeria. Mohammed has held various senior roles across the MTN Group, including Regional CTIO for Southeast Africa and Ghana. He also serves on the Board of Directors of Bayobab (Nigeria) and MTN Benin.

A driven leader, Mohammed is passionate about execution excellence, people development, and customer experience. He holds a Bachelor of Technology degree in Computer Science and certifications in Advanced Management and General Management. Mohammed is an alumnus of Lagos Business School, Cranfield University, UK, and the University of Cambridge, UK.

Mohammed assumes the reins at MTN Congo-Brazzaville from Ayham Moussa, who joins the MTN Nigeria executive leadership team at COO. Ayham replaces Hassan Jabber, who is leaving MTN. Ayham first joined MTN in 2002, returned in 2006 after a brief hiatus, and has since served the organisation in various markets, including Syria and Guinea-Conakry. He has held senior roles such as Chief Information Officer, Chief Technical and Information Officer, and CEO of MTN Congo-Brazzaville.

In his technology roles, Ayham played a key role in the country’s digital evolution from 2G to 4G, establishing MTN Congo-Brazzaville as a technology leader. His team’s efforts were recognised with awards for the best network in West and Central Africa and the MTN Group. As CEO, Ayham expanded MTN Congo’s leadership and business health, accelerating growth, margins, and operational excellence, while fostering strong relationships with various local stakeholders.

MTN Group President and CEO Ralph Mupita extended his thanks to Djibril for his contribution over nearly nine years at MTN, saying he had been instrumental in building the business in Congo-Brazzaville and leading the turnaround of MTN Côte d’Ivoire. He also thanked Hassan for his immense contribution to the success of the Group over 22 years, where his roles included CEO in markets such as Sudan, Guinea-Conakry and Afghanistan.

“On behalf of the MTN Group Board and Group Exco, I wish both Djibril and Hassan well in their future endeavours. I also congratulate Ayham and Mohammed on their appointments and wish them success in their new roles,” he said.

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As we celebrate 30 years of being in business, connecting Africa and changing lives, MTN Group is pleased to publish our first People Report.

“Our people are our greatest asset. This report is a celebration of their unique spirit, the vibrant ‘Y’ello’ culture, and the incredible impact we’ve made together over the past 30 years,” said Ralph Mupita, MTN Group President and Chief Executive Officer.

Operating in 18 markets, MTN Group employs more than 17 500 people, representing more than 70 nationalities, and a multitude of languages. United by a shared identity as MTNers, the distinctive ‘Y’ello’ greeting, and unique corporate culture drive employees to deliver on MTN’s purpose – to enable the benefits of a modern connected life to everyone in our markets.

The inaugural People Report covers what it means to be part of our big and bold Y’ello Family, the power of Y’ello, explores trends shaping the HR landscape in Africa, and showcases innovative practices that have enabled us to create an inspired life for our people.

“Over the past three years, we have been transforming our workplace culture and creating an environment where employees can bring their authentic selves to work every day,” said MTN Group Chief Human Resources Officer Paul Norman. “This culminated in our Employee Value Promise ‘Live Inspired’.”

“As we celebrate our 30^th anniversary, we are deeply humbled and grateful for how far we have come,” Norman added. “MTN has been built by thousands of dedicated, passionate, and talented individuals who have walked the journey with us. “

The word ‘Y’ello’ epitomises the indomitable spirit of MTN’s people and culture. The impact of this distinct Y’ello spirit fuels MTN’s evolution and uplifts its workplace, societies and communities. The company’s Live Inspired promise underscores its commitment to keeping this Y’ello spirit alive and creating exceptional experiences that bring joy and a sense of belonging, every day.

Please click below to read the full People Report:

Link to Report

Link to People Report Page

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MTN Group welcomed a high-level delegation from Nigeria’s National Institute for Policy and Strategic Studies (NIPSS) at our Johannesburg headquarters on Thursday.

The visit – co-hosted by the SA-Nigeria Business Chamber, the Department of Trade, Industry and Competition and the Nigerian embassy – is part of a NIPSS study tour to explore the intersection of digital technology, youth empowerment, and sustainable job creation in Nigeria.

Amb. Alexander T. Ajayi, Chargé d’Affaires of the Nigeria High Commission, led the delegation to the meeting, which included prominent government officials, military representatives, law enforcement personnel, and leaders from professional associations. The visit further strengthened the bilateral relationship between Nigeria and South Africa, presenting a significant opportunity for learning and collaboration.

“On behalf of the Nigerian government and the National Institute for Policy and Strategic Studies, I extend our heartfelt gratitude to MTN for hosting our delegation,” said Amb. Alexander Ajayi, reflecting on the significance of the visit. “Collaboration and strategic partnerships are crucial in harnessing the full potential of digital technology for socio-economic development. By integrating efforts, we can create robust frameworks that empower our youth, drive job creation, and foster sustainable growth.”

During the visit, the delegation engaged with MTN Group and MTN Nigeria executives, led by MTN Group Executive for Consumer Business Enzo Scarcella. They also toured MTN’s Technology Innovation Lab, witnessing cutting-edge advancements firsthand.

“We are honoured to host this esteemed delegation,” said Scarcella. “The visit underscores our commitment to supporting Nigeria’s digital transformation and economic growth. By working together, we can unlock the digital economy’s full potential and create a connected future for all Nigerians.”

The theme of the week-long study tour to South Africa – “Digital Economy, Youth Empowerment, and Sustainable Job Creation in Nigeria: Issues, Challenges, and Opportunities” – encourages dialogue and identifies new areas on which to collaborate to further both nations’ objectives to build digital societies for tomorrow.

A’isha Umar Mumuni, Chief Digital Officer at MTN Nigeria, reaffirmed the company’s pledge to boost digital infrastructure, driving Nigeria’s economic growth. She highlighted MTN’s commitment to advancing Nigeria’s digital landscape through investments in connectivity, digital platforms, and expanded financial services to rural areas, solidifying the company’s dedication to the country’s digital future.

MTN – which marks its 30^th anniversary in 2024 – is committed to leveraging its expertise and resources to empower Nigerian youth, bridge the digital divide, and accelerate sustainable development, fostering hope and optimism for the future.

The Group has called on African governments to consider harmonising regulations – particularly in the tech sector – to support the increased capital investment in digital infrastructure required to accelerate economic development.

MTN Group – which started operating in South Africa in 1994 – has 18 operations, 17 of which are in Africa. The Group’s biggest subsidiary by subscriber numbers is MTN Nigeria, which had almost 78 million subscribers at the end of the first quarter of 2024. MTN Nigeria began commercial operations in August 2001.

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