₦airaland Forum

MTN To Sell Off Assets As Telco Intensifies Market Exit, Amid Subscriber Loss

In a bid to increase available liquidity, telecommunications company, MTN Group, is selling off assets, while also abandoning some to force out its market exit.

The network provider is set to generate about $747 million from the sale of its South African towers. According to the Chief Executive Officer of MTN, Ralph Mupita, bids have been received for the sale.

Part of the break up ongoing within MTN Group includes the separation of both the fintech and fiber units, with the former going separately by March, Bloomberg reported – while the fiber unit will standalone in the next two years.

In its market exit bid, MTN Group’s focus is on the Middle East, with Syria, Afghanistan, Yemen tabled on the exit options, and ignoring Ethiopia’s international operator license call.

Already, MTN has taken an unorthodox path in exiting Syria’s business environment, by abandoning its business due to regulatory demands in the country.

Meanwhile, in Nigeria, MTN continues to suffer data subscriber loss, with over 600,000 wiped off its customer base, and 473,495 users in its telephony service in July.

According to Ripples Nigeria analysis of industry data obtained from Nigerian Communications Commission, MTN is on a six-month run loss this year.

BafanaBafana:
I blame the recent compulsory NIN registration for this. People could no longer buy sim cards, people whose sim was stolen could no longer get it back, business was so slow and most of their partners were loosing heavily

BafanaBafana:
I blame the recent compulsory NIN registration for this. People could no longer buy sim cards, people whose sim was stolen could no longer get it back, business was so slow and most of their partners were loosing heavily

GIANTPLUSHUB:
You are very right. Old people that their phones got lost cannot easily retrieve the lines or buy new ones without the NIN and the process of getting the NIN is too stressful for these old people. Atimes, they will have to be on queue for long hours in which they might not even get it done that day, which means they will have to come back the next day which isn't guarantee again.