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General

MTN declares progress towards fintech and fibre spin-offs, targets 100 mln fintech subscribers in 5 years

Tuesday 8 June 2021 | 10:06 CET | News
MTN Group has presented a plan to create a fintech operating company by the end of the first quarter of 2022 and sign up 100 million subscribers in five years, ITWeb reported. At a virtual Capital Markets Day on 04 June, it outlined the Ambition 2025 strategy, which aims at growth, faster de-leveraging of the holding company balance sheet, and unlocking value from group assets and platforms. CEO Ralph Mupita said the structural separation of the fintech and fibre units is key to the plan, and progress has since been made to spin off the two entities.

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Categories: General
Companies: MTN
Countries: Africa
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