MTN Zakhele Futhi’s only asset is MTN shares. As MTN’s empowerment fund starts to wind down, the picture for shareholders looks bleak given that its shares have fallen sharply and dividends have been sparse. MTN Zakhele Futhi (MTNZF) was launched in 2016 to replace MTN’s original Zakhele Scheme, which ran from 2010 and was unwound…
MTN Group chairman Mcebisi Jonas MTN Group chairman and President Ramaphosa’s envoy to the US, Mcebisi Jonas, has told the Sunday Times that there is a deliberate campaign of “dirty tricks” by local actors to discredit South Africa and make it a pariah state. Jonas was speaking to the newspaper after news emerged last week…
Shares of MTN Group Ltd. experienced a steep decline in Johannesburg on Monday, falling by as much as 10%—the largest drop since March 2023. The plunge followed the announcement that the company’s South African revenue had fallen, leading to a management shake-up. Investors were also concerned about a U.S. Department of Justice probe into the…
MTN Group CEO Ralph Mupita has warned that discounted pricing by mobile virtual network operators could have adverse consequences for the entire mobile telecommunications industry if MVNOs continue to offer data to their customers at prices lower than infrastructure owners like MTN. MVNOs have no physical network infrastructure of their own, instead relying on mobile…
News that MTN Group is facing an investigation by a US department of justice grand jury sent its shares tumbling 9% on Monday, overshadowing results showing it made a half-year profit following a loss a year earlier. The probe is into its conduct and that of its former subsidiary in Afghanistan and an Iranian cellphone…
MTN Group CEO Ralph Mupita Africa’s biggest telecommunications operator, MTN Group, swung to a half-year profit, it said on Monday, as macroeconomic conditions, inflation and foreign exchange rates in key markets showed improved stability. South Africa-headquartered MTN reported headline earnings per share of R6.45 in the six months to 30 June, compared to a headline…
MTN South Africa has revised its mid-term service revenue guidance downwards as the operator faces stiffer competition in its home market, despite a positive upswing in its operations in the rest of Africa. The business “continues to navigate an environment characterised by elevated competitive intensity and ongoing pressure on consumers”, MTN Group said in its…
MTN Group on Monday disclosed that it is now the subject of a grand jury investigation by the US department of justice. The investigation will look into MTN’s operations in Afghanistan (now disposed of) and Iran (where it owns 49% of Irancell). Both countries are politically volatile and both face US sanctions (sweeping in the…
Incoming MTN South Africa CEO Ferdi Moolman Charles Molapisi is stepping down as CEO of MTN South Africa, and is being replaced in the role by Ferdi Moolman, who was a key driver behind the telecommunications group’s growth in Nigeria, where he was CEO between 2016 and 2021. At the same time, Yolanda Cuba, currently…
MTN and SANTACO put pen to paper. MTN Business has announced the appointment of the South African National Taxi Council (SANTACO) Gauteng as a reseller, targeting the region’s commuters. The MNO issued a statement that confirmed the agreement, ratified recently at the MTN Innovation Centre and followed by a community activation at the Wanderers Taxi…
