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Link to
strategy MTN’s achievements in 2017
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Continued to explore opportunities to convert foreign-denominated
contractual commitments into local currency commitments in various
markets.
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Maximised rand-denominated funding at a holding company level to
improve our currency mix of debt in line with our funding philosophy,
including significant issuances under our domestic medium-term
note programme.
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MTN Ghana secured 510 million cedi facility.
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Developed a new model and obtained board approval to
separate and strengthen second and third line assurance functions
throughout the group.
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Strengthened risk and control KPIs in performance agreements for
senior management. This resulted in a significant increase in
accountability for internal controls and a major reduction in overdue
audit findings.
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Strengthened risk escalation mechanisms through the introduction
of a risk escalation and acceptance policy.
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Strengthened mechanisms to monitor key risk indicators.
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Implemented a group-wide risk control software solution.
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Strengthened the compliance function through the introduction
of a dedicated policy and procedure focus and the approval for a
significant increase in headcount across the group.
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Strengthened the group regulatory function and its oversight over
opcos.
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Established multidisciplinary teams to ensure targeted focus on
aspects such as subscriber registration, spectrum management
and mobile financial services.
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Strengthened KPIs on cash management and upstreaming at opco
and group level.
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Commenced with the implementation of the smart capex programme.
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Successfully repatriated cash from a number of markets, in particular
repatriation of R6,5 billion from Iran and resumption of dividends
from Nigeria, receiving R1,4 billion in 2017 after 2016’s liquidity crisis.
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Maintained a sufficient level of committed facilities at an opco and
group level to respond to market stress scenarios.
MTN Group Limited
Integrated Report 2017
23
How we create value