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All about MTN
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Our reporting suite
Our approach to materiality
Navigating this report
About this report
Who we are
Our products and services
Where we operate and how we perform
Views from our Chairman
Q&A with the Group President and CEO
Q&A with the CFO
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Our market context
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Our outlook
Investment case – a compelling African growth story

How we create and preserve value
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Creating and preserving value through our business model
Material matters impacting value creation
Social, Ethics and Sustainability Committee Chair's review
Stakeholders with whom we partner to create value
Audit Committee Chair’s review
Risk Management and Compliance Committee Chair’s review
How we manage risk
Top risks to value creation
Delivering value through our strategy
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Finance and Investment Committee Chair’s review
Our Ambition 2025 strategy
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Connectivity
Fintech
Digital infrastructure
Create shared value
Portfolio optimisation

Governance and remuneration
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Directors Affairs and Governance Committee Chair’s review
Governance in support of value creation
Our Board of Directors
How the Board transformed our values into actions
Our Executive Committee
Definitions for assured non-financial data
Remuneration Report
Independent assurance practitioner’s limited assurance report
Glossary
Administration

Portfolio optimisation

Progress on our portfolio optimisation and asset realisation programme (ARP) continues. We remain committed to deleveraging the balance sheet and simplifying (de-risking) the business, which includes an orderly exit from the Middle East in an orderly fashion. In the medium term, we will continue to focus on unlocking the value of our fintech, fiber, and infrastructure assets.

ARP | R22.4bn of target achieved to date of ~R25.0bn target

 

Progress to date

Future focus

Realisations and other

  • Jumia, BICS, aYo, and other – R5.0bn
  • SA tower transaction – R6.4bn
  • Mastercard – up to $200m on completion
  • Platform minority investments
  • Digital group
  • METVH MT
  • Snapp Group ST/MT

Localisations

Nigeria IPO – R4.2bn

Ghana, Uganda and Zambia localisations – R6.1bn

Further sell-downs

Nigeria ~11%

Cameroon ~10%

Portfolio optimisation

Market exits

  • MENA: Afghanistan
  • WECA: Guinea-Bissau
    Guinea-Conakry

Simplify the portfolio and reduce risk

Optimising our portfolio is essential to our strategic priority of simplifying our business operations, reducing risk and fulfilling our commitment to unlock value for our stakeholders. We continually explore opportunities for accretive mergers and acquisitions (M&A) in line with our disciplined financial and capital allocation frameworks to support our ambitions for growth and value creation.

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