\tMTN Group announced plans to sell ZAR15 billion ($1 billion) worth of assets over the next three years, including its stake in its Botswana joint venture, and to launch a barrage of new services across its markets.<\/p>\n
As was widely reported [1], following a strategic review of its portfolio MTN agreed to sell its majority stake in Botswana\u2019s largest operator Mascom to JV partner Econet Wireless for $300 million.<\/p>\n
Other units and investments up for sale were not detailed, however the company said its interests in e-commerce and tower ventures had been identified as non long-term investments and will be sold \u201cover time\u201d.<\/p>\n
Cash raised from its various divestments will be used to reduce debt.<\/p>\n
In a statement issued alongside its annual results report, the operator said the strategic shift aims to “reduce risk, improve returns and simplify MTN.\u201d<\/p>\n
As it disposes of some interests, CEO Rob Shuter (pictured) said the operator group would now place a \u201cmajor focus on fintech, digital enterprise and wholesale\u201d.<\/p>\n
Diversified
\nLater this year, the company plans to launch a music streaming service and instant messaging applications in its markets. It is also set to expand mobile money services to Nigeria, Afghanistan, Sudan and revive the service in South Africa.<\/p>\n
MTN abandoned its mobile money service [2] in South Africa in 2016, citing a lack of commercial viability. By the end of 2019 MTN Money will be available in 18 markets.<\/p>\n
Income
\nThe company revealed net profit of ZAR9.6 billion in 2018, up from ZAR4.6 billion in 2017, following a number of one-off items.<\/p>\n
Shuter said the company: “Delivered a very encouraging performance in 2018, meeting our targets for growth.”<\/p>\n
“We continue to benefit from the demographic dividend in the countries in which we operate and, while the markets remain challenging, we continue to target service revenue growth ahead of inflation.”<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/mtn-considers-botswana-withdrawal\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/sas-mtn-follows-vodacom-in-ditching-mobile-money\/<\/p>\n","protected":false},"excerpt":{"rendered":"
MTN Group announced plans to sell ZAR15 billion ($1 billion) worth of assets over the …<\/p>\n
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