by SAVIOUS KWINIKA
JOHANNESBURG – THE MTN Group is to invest approximately R29,1 billion (US$1,9 billion) in its network, finance technology and digital services platforms in 2021.
This is part of the newly-announced “Ambition 2025” blueprint, focusing on its pan-Africa strategy.
As part of this strategic repositioning, MTN is looking to structurally separate its infrastructure assets and platforms, such as fintech, to reveal value and attract third-party capital and partnerships into these businesses, over the medium-term.
MTN made the announcement as it presented its financial results for the year ended December 31, 2020.
It recorded a 10,9 percent revenue increase to R179,4 billion (US$11,75 billion).
Subscribers increased by 28,8 million to 279,6 million during the period.
This is across the 21 markets the South African-headquartered mobile firm operates in.
“Going forward, we believe that our revised strategy, Ambition 2025, will position the business to capture the exciting opportunities across our markets and our medium-term guidance has been enhanced to reflect this accelerating growth outlook” stated Ralph Mupita, the MTN Group President and Chief Executive Officer.
– CAJ News