Governance and remuneration
Glossary
2G
Second generation mobile communications
3G
Third generation mobile communications
4G/LTE
Fourth generation or long-term evolution mobile communications
5G
Fifth generation mobile communications
AFS
Annual Financial Statements
AGM
Annual General Meeting
AI
Artificial intelligence
API
Application programming interface
ARP
Asset realisation programme
ATU
African Telecommunications Union
B-BBEE
Broad-based black economic empowerment
capex
Capital expenditure
capex intensity
Capex divided by revenue
Capital employed
Total assets – current liabilities – investments in associates and JVs
CEO
Chief Executive Officer
CFO
Chief Financial Officer
CHASE
MTN's framework to drive adoption of data services (Coverage, Handsets,
Affordability, Service bundling, and Education and ease of access)
Churn
Average disconnections in a period divided by average monthly customers
CSA
Control self-assessment
CSI
Corporate social investment
CVM
Customer value management
DDos
Distributed Denial-of-Service attack
EBITDA
Earnings before interest, tax, depreciation and amortisation
EEP
Expense efficiency programme
EFCF
Equity FCF = FCF - dividends to non-controlling interests
ERM
Enterprise risk management
ESG
Environmental, social and governance
FCF
Free Cash Flow = OpFCF +/- net interest - tax paid
Financial capital
Debt and equity financing, as well as cash generated from operations and
investments
FSC
Financial Sector Code
Fintech
Includes MTN Mobile Money, e-commerce, insurance, airtime lending and data
monetisation streams
Forex/Fx
Foreign exchange
FTTX
Fibre to the x. Any broadband architecture using fibre to provide all or part of the local loop for last mile telecoms
FWA
Fixed wireless access
GDP
Gross domestic product
GSMA
Global System for Mobile Communications Association
HEPS
Headline earnings per share
Human capital
The motivation, skills, safety and diversity of our employees, contractors, partners and suppliers
Hyperscaler
An operator of a data centre that offers scalable cloud computing services.
ICT
Information and communication technologies
IFRS
International Financial Reporting Standards
IMF
International Monetary Fund
Intellectual capital
Our culture; our know-how; proprietary and licensed technology: procedures and processes
IPO
Initial public offering
ITU
International Telecommunication Union
JSE
Johannesburg Stock Exchange
KPIs
Key performance indicators
KYC
Know your customer: a process to identify and verify customer identity
LEO satellites
Low Earth Orbit satellites
M&A
Mergers and acquisitions
Manufactured capital
Our networks; 2G, 3G, 4G and 5G base stations and fibre; electronic devices; public infrastructure.
MENA
Middle East and North Africa
METVH
Middle East Tech Ventures Holding
MoI
Memorandum of incorporation
MTR
Mobile termination rate
MVNO
Mobile virtual network operator
Naas
Network as a Service
Natural capital
Spectrum, energy and land
NIN
National identification numbers
Opcos
Our operating companies
opex
operational expenditure
OpFCF
EBITDA +/- non-cash items +/- change in working capital – capitalised lease payments – acquisition of PPE and intangible assets capex – spectrum acquisitions/renewals
PSB
Payment Services Bank
RIS
Reputation Index Survey
ROCE
Return on capital employed
ROCE
EBIT/Capital employed (excludes hyperinflation, asset impairments and exceptional items for both EBIT and Capital Employed).
ROE Holdco leverage
Holdco net debt (including Bayobab)/SA EBITDA + cash upstreaming
SDGs
United Nations Sustainable Development Goals
SENS
Stock Exchange News Service
SEA
Southern and East Africa region
SIM
Subscriber identity module
SMP
Significant market power
SMS
Short message service
Social capital
Trusted relationships with customers, communities, governments and regulators, suppliers, trade unions, industry bodies and civil rights groups
telcos
Telecommunications companies
TSR
Total shareholder return
USME
MTN's programme to sustain demand for voice services
USO
Universal service contribution
USSD
Unstructured supplementary service data
WECA
West and Central Africa
