Like a seasoned athlete competing for gold in the decathlon, MTN remains steadfast in its strategy to do business in Nigeria, despite facing a number of hurdles in the country over the years. "Nigeria is a core market of MTN Group. It's the most populated African country, with good demographics, has decent revenue growth and ebitda [earnings before interest, tax, depreciation and amortisation] margins are higher than SA," MTN Group CEO Rob Shuter said this week. Unlike other JSE-listed companies, MTN is one of the few South African businesses to have succeeded in operating outside its home country. Retail giant Woolworths has found itself in a quagmire in Australia — having invested there after failing to conquer the much sought-after Nigerian market. With 233-million subscribers in 21 markets globally, MTN operates in a number of conflict areas including Yemen, Syria and Afghanistan — markets that many investors have found unfavourable. Shuter said that as long as capital expenditu...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.