MTN Group Progresses Asset Realization: Irancell IPO by 2024, Afghanistan Transition in 2023

MTN Group’s CEO Ralph Mupita announced the ongoing strategic realignment, with MTN Irancell’s IPO set to conclude by the end of next year. The group aims to simplify its portfolio, reduce debt, and enhance returns through its asset realization program (ARP). Mupita emphasized the ongoing execution of these initiatives.

Mupita mentioned that the process for MTN Irancell’s IPO is currently underway and is expected to be finalized by the end of 2024. Regulatory approval for transferring MTN Afghanistan to an M1 affiliate has been secured, with the transaction projected to complete in H2 2023. Discussions about the orderly exit of MTN Guinea-Bissau, MTN Guinea-Conakry, and MTN Liberia are ongoing.

MTN’s localization efforts are still active, with plans for further sell-downs pending favorable market conditions. Mupita noted the company’s collaboration with tower company IHS to address governance concerns and clarified no immediate plans to sell MTN’s stake.

Mupita provided these updates while reporting on MTN Group’s half-year performance and its commitment to strategic initiatives that optimize its operations and portfolio.