MTN invests R29 billion in ambitious 2025 blueprint

MTN Group CEO and Group President Ralph Mupita

by SAVIOUS KWINIKA 
JOHANNESBURG, (CAJ News) THE MTN Group is to invest approximately R29,1 billion (US$1,9 billion) in its network, finance technology and digital services platforms in 2021.

This is part of the newly-announced “Ambition 2025” blueprint, focusing on its pan-Africa strategy.

As part of this strategic repositioning, MTN is looking to structurally separate its infrastructure assets and platforms, such as fintech, to reveal value and attract third-party capital and partnerships into these businesses, over the medium-term.

MTN made the announcement as it presented its financial results for the year ended December 31, 2020.

It recorded a 10,9 percent revenue increase to R179,4 billion (US$11,75 billion).

Subscribers increased by 28,8 million to 279,6 million during the period.

This is across the 21 markets the South African-headquartered mobile firm operates in.

“Going forward, we believe that our revised strategy, Ambition 2025, will position the business to capture the exciting opportunities across our markets and our medium-term guidance has been enhanced to reflect this accelerating growth outlook” stated Ralph Mupita, the MTN Group President and Chief Executive Officer.

– CAJ News

 

 

 

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