LONI PRINSLOO
MTN Group Ltd. is looking to sell and lease back part of its portfolio of 13,000 South African telecom towers, a sign that new Chief Executive Officer Ralph Mupita is looking to build on a disposal plan kicked off by his predecessor.
Africa’s biggest wireless carrier is considering “the strategic and financial merits” of the plan, Mupita said in an interview on Wednesday. The move would build on similar transactions MTN has completed in countries such as Ghana and Uganda, he said.
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Under former CEO Rob Shuter, the Johannesburg-based wireless carrier kicked off a plan to raise 15 billion rand to help pay down debt, completing the project earlier this year. MTN then announced an intention to exit the Middle East region, with talks under way to sell its Syria operation.
The company recently generated about 2.3 billion rand from the long-awaited disposal of a
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