MTN Clarifies Stance on Irancell Stake Amid Media Scrutiny
MTN Group has issued a formal response to recent media reports concerning its minority stake in Iran, stating that several of the claims are false and misleading.
The Group clarified that since 2006, it has maintained a 49 percent non-controlling interest in Irancell. It emphasized that MTN does not exert operational control over the entity and has neither extracted dividends nor deployed capital into the business since May 2018. That decision followed the re-imposition of United States sanctions on Iran after the U.S. withdrawal from the Joint Comprehensive Plan of Action (JCPOA).
“MTN ensures strict adherence to global sanctions regulations and upholds legal and ethical compliance across all its markets,” the company said. Among the media outlets revisiting MTN’s Iran position is Polity.
MTN also recalled its 2020 strategic decision to simplify its portfolio by exiting the Middle East in an orderly fashion, reinforcing its commitment to focus on its pan-African vision. As of 31 March 2025, the Group served 297 million customers across 16 African markets.
Reaffirming its corporate values, MTN stated: “We are committed to respecting and protecting human rights within our markets and broader sphere of influence. Our digital products and services play a critical role in advancing and protecting human rights.”
The company also addressed ongoing litigation in the United States related to the Anti-Terrorism Act, in which it is a named defendant. “MTN has deep sympathy for those affected by the conflicts in Iraq and Afghanistan. However, we were not involved in those events and continue to defend the matter respectfully. No court has found the Group guilty of any wrongdoing,” MTN said, referencing its 2024 Annual Financial Statements.
MTN Group is currently chaired by Mcebisi Jonas. The company also clarified that South African President Cyril Ramaphosa, who chaired MTN Group over a decade ago, resigned from that role in May 2013. MTN firmly rejected any suggestion that it influences South Africa’s foreign policy, stating, “Our business decisions are entirely independent of government foreign policy positions.”
