MTN Group is nearing completion of the sale and leaseback of South African towers, with separation of the fintech and fibre units also underway.
The company says the tower deal could generate as much as $747 million.
MTN Group is undergoing a transformational breakup project, shedding assets and exiting markets to focus on core businesses around the continent. Its key aspect is to cease operations in the Middle East, having already left Syria.
Sales grew by 2.1% in H1 2021, with earnings before interest, taxes, depreciation and amortization rising by 6.6%. The group outperformed in its home market of South Africa, where revenue gained 12%.
In January last year, MTN agreed to sell its Ugandan tower business to American Tower by the end of 2020 Q1. The agreement came after troubles with the regulators in Uganda, Nigeria and Ghana, which forced the company to embark on a 3-year $1 billion Asset Realization Program.
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