Nightmare in Nigeria: more pain for MTN
The telecoms giant just can’t catch a break, and the problem is its dependence on its most troublesome market — Nigeria
09 November 2023 - 05:00
The MTN board must have hoped life would become a little easier once it shed its troublesome Middle East operations and focused on Africa, as part of a decision taken back in 2020.
Sadly, it seems the directors may not have reckoned with Nigeria, where events conspire to ensure a far from easy life for investors. It’s led to a stomach-churning reversal in the group’s share price in the past 18 months, after MTN finally (after a seven-year toil) topped R200 a share in March 2022. ..
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