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February 07, 2016 4:54 AM ET

Wireless Telecommunication Services

Company Overview of MTN Group Limited

Company Overview

MTN Group Limited operates in the telecommunications industry. It offers voice and data services; and business services, such as cloud, infrastructure, network, software, and enterprise mobility. The company also provides MTN mobile money account, which enables to make payments, buy prepaid services, and withdraw cash. In addition, it offers digital lifestyle products, including MTN Play that offers games, music, news, and lifestyle services; and MTN Football, a game. As of December 31, 2014, the company served 223.4 million subscribers in 22 countries in Africa, Asia, and the Middle East. MTN Group Limited was founded in 1994 and is headquartered in Johannesburg, South Africa.

Innovation Centre

216 14th Avenue

Fairlands

Johannesburg,  

South Africa

Founded in 1994

19,475 Employees

Phone:

27 11 912 3000

Fax:

27 11 912 3001

Key Executives for MTN Group Limited

Chief Financial Officer, Financial Director and Executive Director
Age: 50
Total Annual Compensation: $12.3M
Chief Operating Officer
Age: 57
Total Annual Compensation: $17.1M
Chief Executive Officer of South Africa
Age: 54
Total Annual Compensation: $14.3M
MTN SA Chief Executive Officer
Age: 50
Total Annual Compensation: $1.7M
Group Chief Strategy, Mergers & Acquisition Officer
Age: 58
Total Annual Compensation: $9.9M
Compensation as of Fiscal Year 2014.

MTN Group Limited Key Developments

WorldRemit and MTN Group Partner in Uganda, Rwanda and Zambia

WorldRemit and MTN Group have announced a partnership in which WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia. The launch follows the signing of a global partnership agreement earlier this year, to enable WorldRemit customers all over the world to send international remittances to MTN's Mobile Money customers. MTN Mobile Money enables users to perform utility payments, save money, purchase airtime and access a range of mobile financial products. In keeping with its aim to accelerate the rollout of international remittance, MTN launched a cross-border mobile money transfer service between Uganda and Rwanda in August. The service allows customers in both countries to transact via MTN Mobile Money with the same simplicity as for a local money transfer. MTN also offers a mobile money cross-border remittance service between Ivory Coast, Benin, Burkina Faso and Niger. The remittance corridor between Kenya and Rwanda is the latest addition to MTN's Mobile Money bouquet of services.

Mr. Fani Titi Resigns as Non-Executive Director on Board of MTN Group

Mr. Fani Titi (South African) has resigned as a Non-Executive Director on the Board of MTN Group, with effect from 31 December 2015. Mr. Titi joined MTN Group as a Non-Executive Director in July 2012 and also served as a member of the Remuneration and Human Resources Committee.

MTN and Telefónica Group Sign Strategic Partnership Agreement

MTN and Telefónica Group signed a strategic partnership agreement which enables the two telecoms operators to work together to benefit from their joint scale, combined expertise and market access. The companies explained in a joint press statement that the strategic partnership is supported by the Telefonica Partners Program, an initiative launched by Telefonica in 2011, which includes other leading telcos covering a total of 35 markets in Europe, Latin America, Asia and Middle East. The collaboration is expected to provide a stronger basis to compete globally in the changing telecoms industry. Many of the initial strategic areas of cooperation are aiming to improve both companies' stand in regards to enterprise customers, including services to multinational companies in each other's footprint, collaboration in machine-to-machine (M2M) and new digital products and services targeting the business-to-business (B2B) segment. Other areas where they may engage going forward include the alignment in key technology projects in network and IT, new initiatives like mobile money and big data projects as well as possible collaboration on commercial and marketing strategies. South Africa-headquartered MTN operates in 22 countries in Africa, Asia and the Middle East with 233 million subscribers across its operations.

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