Annexure 1

at 31 December 2011

INTERESTS IN SUBSIDIARY COMPANIES AND JOINT VENTURES

			2011	2010
Subsidiaries and joint ventures in which MTN Group Limited has a direct and indirect interest	Principal activity	Place of Incorporation	% interest in issued ordinary share capital
MTN Afghanistan Limited	Telecommunications	Afghanistan	90,9	90,9
Spacetel Benin SA	Telecommunications	Benin	75	75
Deci Investments Proprietary Limited**	Investment holding company	Botswana	33	33
Econet Wireless Citizens Limited	Investment holding company	Botswana	82,8	82,8
Mascom Wireless Botswana Proprietary Limited**	Network operator	Botswana	53	53
MTN Business Solutions Botswana Proprietary Limited	Internet service provider	Botswana	80	80
Easy Dial International Limited	Holding company	British Virgin Islands	99	99
Interserve Overseas Limited	International business	British Virgin Islands	99	99
Investcom Consortium Holding S.A.	Holding company	British Virgin Islands	99	99
Investcom Global Limited	Managing and holding company	British Virgin Islands	99	99
Investcom International Limited	Dormant company	British Virgin Islands	99	99
Investcom Mobile Benin Limited	Holding company	British Virgin Islands	99	99
Investcom Mobile Communications Limited	Holding company	British Virgin Islands	100	100
Investcom Telecommunications Afghanistan Limited	Holding company	British Virgin Islands	100	100
Investcom Telecommunications Guinea (Conakry) Limited	Holding company	British Virgin Islands	99	99
Investcom Telecommunications Yemen Limited	Telecommunications	British Virgin Islands	100	100
MTN Yemen	Telecommunications	British Virgin Islands	82,8	82,8
Prime Call Limited	Telecommunications	British Virgin Islands	100	100
Spacetel Africa Limited	Telecommunications	British Virgin Islands	100	100
Starcom Global Limited	Holding company	British Virgin Islands	100	100
Mobile Telephone Networks Cameroon Limited	Network operator	Cameroon	70	70
MTN Network Solutions Limited	Internet service provider	Cameroon	100	100
Afnet	Internet service provider	Côte d’ Ivoire	100	100
Arobase	Fixed line operator	Côte d’ Ivoire	100	100
MTN Côte d’Ivoire S.A.	Network operator	Côte d’ Ivoire	64,7	64,7
Infotel Limited	Telecommunications	Cyprus	100	100
MTN Cyprus Limited	Telecommunications	Cyprus	50	50
OTEnet Cyprus Limited	Telecommunications	Cyprus	100	100
Uniglobe SA	Management company	France	99,8	99,8
Scancom Limited	Telecommunications	Ghana	97,7	97,7
Areeba Guinea S.A.	Telecommunications	Guinea	75	75
Spacetel Guinea-Bissau S.A.	Telecommunications	Guinea-Bissau	100	100
Irancell Telecommunications Services Company Proprietary Limited**	Network operator	Iran	49	49
Uunet Communications Proprietary Limited	Internet service provider	Kenya	95	95
Uunet Kenya Proprietary Limited	Internet service provider	Kenya	95	95
Inteltec O shore SAL	Maintenance and engineering services	Lebanon	99,8	99,8
Inteltec SAL	Maintenance and engineering services	Lebanon	—	99,99
MTN (Dubai) Limited	Holding company	Lebanon	100	100
Servico SAL	Services and transportation of goods	Lebanon	99,97	99,97
Lonestar Communications Corporation LLC	Telecommunications	Liberia	60	60
Guardrisk International Limited PCC	Insurance company	Mauritius	100	100
Mobile Botswana Limited	Investment holding company	Mauritius	100	100
MTN International (Mauritius) Limited	Investment holding company	Mauritius	100	100
Satellite Data Networks Mauritius Proprietary Limited**	Internet service provider	Mauritius	60	60
MTN Business Solutions Namibia Proprietary Limited	Internet service provider	Namibia	100	100
Electronic Funds Transfer Operations Nigeria Limited	Virtual airtime	Nigeria	50	50
MTN Nigeria Communications Limited	Network operator	Nigeria	78,83	76,08
XS Broadband Limited	Telecommunications	Nigeria	100	100
Galactic Engineering Projects SA	Holding company	Panama	78	78
Vernis Associates SA	Holding company	Panama	100	100
MTN Congo S.A.	Network operator	Republic of the Congo	100	100
Supercell	Network operator	Republic of the Congo	—	70
MTN Rwandacell S.A.R.L.	Network operator	Rwanda	80	55
Village Phone Rwanda	Airtime sales	Rwanda	100	100
Aconcagua 11 Proprietary Limited	Property holding	South Africa	100	100
Cell Place Proprietary Limited	Cellular dealership	South Africa	100	100
iTalk Cellular Proprietary Limited	Service provider	South Africa	100	100
Mobile Telephone Networks Proprietary Limited	Network operator	South Africa	100	100
Mobile Telephone Networks Holdings Proprietary Limited	Investment holding company	South Africa	100	100
MTN Business Solutions Proprietary Limited	Internet service provider	South Africa	100	100
MTN Group Management Services Proprietary Limited	Management services	South Africa	100	100
MTN International Proprietary Limited	Investment holding company	South Africa	100	100
Oltio Proprietary Limited
(MTN Mobile Money Holdings Proprietary Limited)**	Wireless banking services	South Africa	50	50
MTN Network Solutions Proprietary Limited	Internet service provider	South Africa	100	100
MTN Propco Proprietary Limited	Property holding	South Africa	100	100
MTN Service Provider Proprietary Limited	Service provider	South Africa	100	100
Satellite Data Networks Proprietary Limited	Dormant company	South Africa	100	100
Inteltec Maroc SA	Maintenance and engineering services	Monaco	99,83	99,83
MTN Sudan Company Limited	Network operator	Sudan	85	85
Swazi MTN Limited**	Network operator	Swaziland	30	30
MTN Syria (JSC)	Telecommunications	Syria	75	75
MTN Publicom Limited	Payphone services	Uganda	100	100
MTN Uganda Limited	Network operator	Uganda	96	96
Spacetel International Limited	Dormant company	United Kingdom	100	100
Cotel Holdings Limited	Investment holding company	Zambia	100	100
MTN (Zambia) Limited	Network operator	Zambia	86	90
Uunet Zambia Proprietary Limited	Internet service provider	Zambia	95	95
MTN (Netherlands) Co-Op UA	Holding company	Netherlands	100	—
MTN (Netherlands) BV	Holding company	Netherlands	100	—
MTN NIC BV	Holding company	Netherlands	100	—
Easynet Search Limited	Internet service provider	Ghana	100	—
Fourteen Avenue Holding Limited	Holding company	Dubai	100	—

**Joint ventures