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Group president and CEO
Group chief financial officer
Scope and boundary of this report

MTNís integrated business report is available annually, at least 15 business days ahead of its AGM, which is scheduled to be held on 29 May 2012. The 2011 report covers the period from 1 January 2011 to 31 December 2011. It provides a general narrative on the performance of the Groupís businesses across 21 markets in the Middle East and Africa, but focuses its more detailed commentary on the performance of its main businesses in South Africa, Nigeria, Iran, Ghana and Syria. This report also includes the Groupís consolidated annual financial statements. The 2010 report was posted to shareholders on 27 May 2011.



Group subscribers up 16,2%
164,5 million
Final dividend per share
476 cents
Group subscribers up 16,2%
Group subscribers up 16,2%
Adjusted HEPS up 43,2%
1 070,0 cents
Share buyback completed
R927,3 million

† Including profit from sale of Ghana towers



About this report


This year, MTN Group Limited (MTN, the Group or the Company) has moved further in its journey towards providing a more integrated report to its stakeholders. This incorporates the recommendations of the revised King Code of Governance Principles for South Africa (King III) and the latest work of the International Integrated Reporting Committee. A structured approach was implemented to define material report content and provide a more holistic picture incorporating the Groupís financial, economic, social and environmental performance. This approach was achieved through workshops and input from key representatives of various disciplines, including risk management, stakeholder management, financial reporting, investor relations, company secretariat, sustainability and human resources. Consideration was given to feedback from key stakeholders in compiling this report. The key improvement made to the 2011 report is the inclusion of the Group opportunities as part of its risk assessment. This forms the thread through the report, providing insight into the most material aspects of the business across MTNís markets. MTN has also better incorporated its social, economic and environmental contributions to the countries and societies in which it operates...


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Full report [PDF - 3MB]