MTN (Dubai) Limited and MTN Uganda have secured facilities through the pledge of their cash and cash equivalents. Please refer to
note 20.

Included in cash and cash equivalent balances are amounts relating to the Syrian operations. The Syrian markets have only recently started liberalising foreign exchange legislation to allow for the purchase of foreign currency which is therefore still limited, hence the Group’s difficulty in obtaining foreign currency in this market. This is a situation acknowledged by the Syrian authorities with whom we continue to engage.

In addition, due to sanctions imposed on Iran, it is proving difficult to repatriate funds from MTN Irancell. The Group is, however, considering various alternatives to facilitate the repatriation of the funds.

The Group’s exposure to interest rate risk, credit risk and a sensitivity analysis for financial assets and finance liabilities is disclosed in
note 47.