South African telecoms giant MTN, has announced it will pull out of the Middle East to concentrate on Africa.
The company which was founded in 1994, lists operations in Syria, Sudan, Yemen and Iran in its Middle East file, which also includes Afghanistan. MTN has resolved to simplify its portfolio and focus on its pan-African strategy and will therefore be exiting its Middle Eastern assets in an orderly manner over the medium-term. The group will scrap its interim dividend under a blueprint to navigate the coronavirus plandemic – which posed an unprecedented socio and macroeconomic challenge rendering trading conditions difficult. CEO, Rob Shuter, mentioned strong results during the COVID-19 period in his statement, singling out great performances in Nigeria, Ghana and homebase South Africa.
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