SA Mobile Giant MTN Exits Middle East to Focus on Africa

Focus on Africa

Africa’s largest mobile operator, and South African telecom giant MTN, announced Thursday it would pull out of the Middle East the medium term to concentrate on its pan-African strategy resolving to simplify its portfolio and exit its Middle Eastern assets in an orderly fashion.

The group will scrap its interim dividend under a blueprint to navigate the coronavirus pandemic – which posed an unprecedented socio and macroeconomic challenge rendering trading conditions difficult. CEO, Rob Shuter, mentioned strong results…

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