MTN’s fintech customer base booms as new investment inches closer
The group is in the ‘binding offer phase’ and expects an outcome in the first quarter of 2023
04 November 2022 - 09:29
UPDATED 06 November 2022 - 17:56
MTN is inching closer to closing a deal that will cause outside investment to be injected into its fast-growing financial services unit, a move that the group hopes will help to expand the business and realise an estimated R90bn valuation.
As voice revenues fall and margins shrink in mobile data services, MTN has been on a mission to grow new lines of business including financial services on the continent where few have a conventional bank account. ..
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