MTN Group CEO Rob Shuter

MTN has announced that it is focusing its strategy on the African markets. “As part of our ongoing portfolio review, we believe the group is best served to focus in the future on our pan-African strategy,” says MTN Group CEO, Rob Shuter. “We will, therefore, be exiting the Middle East in an orderly manner over the medium term. As a first step, we are in advanced discussions to sell our 75% stake in MTN Syria.” The news comes after the telco announced that it added 11 million subscribers in the first six months of the year to reach a total base of 262 million. By the end of June 2020, MTN had 102 million active data users and 38 million active Mobile Money users. Despite lockdown restrictions impacting network rollout, MTN Group invested R10 billion in capital expenditure across...