S.Africa Mobile Giant MTN Exits Middle East To Focus On Africa Due To COVID-19 Impact
By Our Reporter
Africa's
largest mobile operator, and South African telecom giant MTN, announced
Thursday it would pull out of the Middle East in 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.
MTN CEO, Rob
Shuter, mentioned strong results during the COVID-19 period in his statement,
singling out great performances in Nigeria, Ghana and home base South Africa.
The company
which was founded in 1994, lists operations in Sudan, Syria, Yemen and - as
well as Iran and Afghanista...