Not too long ago, MTN revealed its plans to focus its operations and strategy primarily on the African markets.
‘’As part of our ongoing portfolio review, we trust the company is best served by focusing in the future of its pan-African strategy,’’ said Rob Shuter, CEO of MTN Group.
Following the announcement of the increase in subscribers it witnessed in the first half of the year, MTN made their plan to focus on the African market known to the public.
The telecom group welcomed 11 million subscribers between January and June 2020, making its total subscriber base about 262 million customers.
At the end of June 2020, MTN recorded a total of 38 million Mobile Money users and 102 million active data subscribers.
”Therefore, we will be exiting the Middle East in an orderly pattern over the medium term. To start with, we are in advanced discussions to sell our 75% stake in MTN Syria.”
Despite the lockdown measures affecting network rollout, MTN Group pumped R10 billion in capital expenditure across its African markets. Following the investment, over 54 million people had access to the 3G and 4G networks due to the widened coverage.
‘’As we manoeuvre through the pandemic and its effect on operations, we made the satisfaction of our customers our priority still,’’ Rob concluded.