Telecommunication

The Transaction is the latest strategic divestment of the Group’s tower portfolio as it focusses on an asset-light business model and on its core subscriber-facing operations.

Note that MTN has a long history of building and operating market-leading operations in numerous markets across Africa and the Middle East, including establishing greenfield operations. At the end of 2020, MTN Group had 280 million subscribers across 21 markets

Safaricom Plc is one of the leading telecom firms and biggest companies in Africa with a valuation of about $10.6 billion, according to Forbes.

Airtel Africa Plc announced earlier today that the National Communications Commission (NCC) has approved its application for the renewal of its spectrum licenses. The renewal is in the 900MHz and 1800MHz bands and will serve Airtel's Nigerian operation.