Thursday, Oct 6, 2022
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MTN planning to spinning out its fibre and financial services units

MTN fintech_IFM_Image
According to media reports, MTN wants to do so to unlock value

South African multinational mobile telecommunications giant MTN Group is mulling spinning out its fibre and financial service units, media reports said. According to media reports, MTN Wants to do so to unlock value. The strategy represents the next phase of an ongoing plan to sell assets and pay down debt so that MTN is more free to invest in expansion.

Last month, it was reported that MTN and 9Mobile have joined forces to seek permission for a mobile-network sharing agreement. Both parties asked the Nigerian regulator’s permission to let customers share their networks, according to 9Mobile chief executive officer Alan Siefield.

Sinfield argued that a pilot-free roaming scheme in Ondo State allowing customers of each company to switch to the network of the other where its own has no coverage has run smoothly.

Last year, MTN announced the appointment of its new chief executive officer (CEO) for its unit in Libya. The telco has appointed Rahul De, who is currently serving as the chief marketing officer (CMO) of MTN Nigeria. Rahul took over as the CEO of MTN Libya Lonestar Cell on November 1, 2020. He replaced Uche Ofodile, who departed in July to become the chief executive of MTN Benin.

In October, MTN announced the appointment of its new chief executive officer (CEO) for its unit in Libya. The telco appointed Rahul De, the former chief marketing officer (CMO) of MTN Nigeria. Rahul took over as the CEO of MTN Libya Lonestar Cell on November 1, 2020. Rahul replaced Uche Ofodile who departed in July to become the chief executive of MTN Benin.

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