Integrated annual report (IAR) Full financial statements Downloads
     


     
Setting the scene   Our strategy   Determining our strategic path   Our leadership
             
     
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[PDF-4MB]
  Circular [PDF-83KB]
Strategic analysis and outlook   Summarised consolidated financials
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Marking 20 years

In 2014, MTN celebrates 20 years in the business.

Two decades of extraordinary achievements and sometimes considerable challenges. A thousand weeks of phenomenal expansion and world firsts. Seven thousand days of pushing the boundaries and embracing diversity. So much has changed, but some things haven’t. MTN is still the pioneering company it was back in the early 1990s, boldly going where others feared to tread: connecting people and making a difference. From a single licence in South Africa awarded in 1994, MTN has invested hundreds of billions of rand in state-of-the-art networks and licences to now connect 208 million people in 22 countries across Africa and the Middle East. From basic voice calls and messaging services, the Group has broadened its offering to include numerous innovative communication, content and entertainment services. Our “can do” approach will continue to propel us forward: Welcome to the new world. 20 years in the making.

 

Welcome to the Bold New Digital World.



 

 


 

About this report and navigation

This annual integrated report is MTN Group Limited’s (MTN, the Group or Company) primary communication to investors and other stakeholders, endeavouring to help them better understand our business. It explains business priorities, how we are governed and how we implement our strategyto ensure MTN’s long-term viability and relevance.

Our approach to integrated reporting has evolved over the past few years. For this year’s report we worked on improving the structure to present a clear and concise story that assists stakeholders in making a more informed assessment of MTN. We have also endeavoured to give an indication of how we expect to perform in future.

Supplementary information that provides more detail on business initiatives is contained in associated reports on MTN’s website. The sustainability and corporate governance reports as well as a full set of annual financial statements (AFS) are available.

Scope and boundary

The content of this report addresses key developments and material matters for the period 1 January to 31 December 2013. It provides insight into factors which influence our strategy and determine our strategic priorities. It gives commentary, performance measures and prospects for the Group’s strategy and material operations.

We define materiality through our internal reporting processes which start with quarterly reporting meetings hosted by the Group president and CEO. These meetings are held over two days every quarter, and include the presentation of performance and prospects by each operation’s CEO, including feedback from each operation’s stakeholders. The process enables the executive committee (exco) to identify common opportunities and risks which are termed as material for the purposes of this integrated report. Material matters are then addressed at a Group exco level, and, where appropriate, through relevant board committees. This is in addition to being discussed at each operation’s country-level board and exco meetings, at which at least one Group exco member attends.

The material matters define the content of this report. They are underscored by our strategic priorities detailed on page 17. Strategic priorities are further developed into specific initiatives, delivery of which is quantified and evaluated against annual targets set by the Group exco at the beginning of the year. In this report, we also provide our outlook on the delivery of our priorites.

When determining material matters, we consider the size of each operation. Our cluster contributions are given on page 6, and show that MTN Nigeria and MTN South Africa collectively account for 64% of the Group’s total revenue. The CEOs of these operations therefore report directly to the Group president and CEO. Our large opco cluster makes up 21% of the Group’s total revenue and the executive responsible for this cluster sits on the exco. For these reasons, we include more detailed 2013 performance reports on MTN South Africa, MTN Nigeria and our large opco cluster on pages 58 to 63.

For the purposes of this report, summarised financial results have been included. The full AFS and the external audit report can be found here.

Icon reference

To make for easier reading, navigation and cross-referencing tools have been included to reference relevant pages within this book and supplementary reports on the website.


Refer to page in integrated report

Reports

Governance report Annual financial statemenst
Sustainability report    

We welcome feedback on this report at investor_relations@mtn.co.za

Reporting principles and assurance

Financial information

In compiling its summarised financial results and AFS, the Group applies International Financial Reporting Standards (IFRS) and complies with the SAICA Financial Reporting Guides as issued by the Accounting Practice Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council. It also complies with the JSE Listings Requirements and the Companies Act of 2008.

The audit committee advises the board which approves the AFS. The AFS are jointly audited by PricewaterhouseCoopers Inc and SizweNtsalubaGobodo Inc.

Non-financial information

Local and global standards and guidelines are used in compiling non-financial information. The key standards of reference are the JSE Listings Requirements, the Companies Act of 2008, King Code of Governance Principles for South Africa 2009 (King III), the International Integrated Reporting Council (IIRC) guidelines, the JSE Social Responsibility Index, the United Nations Global Reporting Initiative G3 Sustainability Reporting Guidelines, the Telecommunications sector supplement and the Carbon Disclosure Project standard.

Non-financial information on certain aspects of the business has been externally assured by PricewaterhouseCoopers Inc. This is included in the detailed sustainability report . The assurance statement can be found on page 72.

Approval by the board

The structure and layout of this report is based on guidance in the latest integrated reporting framework set by the IIRC, and internal parties have devoted significant thought to how best to communicate MTN’s story. The report was prepared under the supervision of the Group CFO, Brett Goschen CA(SA). The audit committee ensures the integrity of the report and has applied its collective mind to its preparation and presentation. The directors are responsible for the integrity of the integrated report as a  whole. The report was approved by the board in March 2014.