SOUTH African mobile operator MTN Group said on Thursday its first-half earnings surged 46.5% and it had received a $35 million binding offer for its Afghanistan business, nearing an exit of the Middle East.
Without disclosing the buyer, Group Chief Executive Officer Ralph Mupita told journalists on a news call the gross sum of $35 million would be paid over a period of time, and proceeds would be $31 million.
He added the completion of the deal would conclude MTN’s exit from Middle Eastern markets, after selling MTN Yemen and abandoning MTN Syria last year. Its 49% financial investment in Irancell will continue to be managed within the MTN portfolio.
In 2020, MTN announced an exit from the Middle East to focus on its core African operations as part of its efforts to simplify its structure and reduce exposure to riskier markets.
MTN, which operates in 19 markets, reported headline
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