MTN added more than R11bn to its market capitalisation on Wednesday as Africa’s largest mobile operator rose past rival M-Pesa to become the biggest mobile payments business on the continent by users. The group is looking to grow the mobile payment business by bringing in outside partners in the second half of the year.

The group, now worth R366bn, reported that it now has 57-million monthly active users, generating 10-billion transactions and a total transaction value of $239bn (R3.625-trillion) in the year to end-December 2021...

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