MTN on track to hive off fintech by early 2022 to help unlock value
Robust demand for data and digital services during pandemic has helped offset the effects of regulations in Nigeria restricting SIM activations
MTN is on track to hive off its R70bn fintech business by early 2022 as part of Africa’s biggest mobile phone operator by users to unlock value for shareholders.
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. ..