May 31, 2016 7:47 PM 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. The company serves 232.5 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

Fairland

Johannesburg,  

South Africa

Founded in 1994

Phone:

27 11 912 3000

Fax:

27 11 912 3001

Key Executives for MTN Group Limited

Group Chief Financial Officer and Executive Director
Age: 50
Total Annual Compensation: R12.3M
Group Chief Operating Officer
Age: 57
Total Annual Compensation: R17.1M
Chief Executive Officer of South Africa
Age: 50
Total Annual Compensation: R1.7M
Group Chief Legal Counsel
Age: 54
Total Annual Compensation: R8.7M
Group Chief Human Resources & Corporate Affairs Officer
Age: 50
Total Annual Compensation: R7.9M
Compensation as of Fiscal Year 2014.

MTN Group Limited Key Developments

MTN Group Announces Phuthuma Nhleko to Step Down as Acting CEO

MTN Group announced that it is searching for a new CEO as the current executive chairman, Phuthuma Nhleko is expected to step down as acting CEO by the end of June 2016. The search for a new MTN Group CEO is well underway, and it will make an announcement before the end of June.

MTN Group Appoints Babak Fouladi as Group Executive in Technology and Information Systems

MTN Group has announced the appointment of Babak Fouladi as Group Executive: Technology and Information Systems. In this role, Fouladi will lead the delivery of MTN's network and information technology strategy across the Group. On joining MTN, he will temporarily assume responsibility for the vacant Chief Technology Officer role in MTN South Africa, until a permanent appointment is finalised. Fouladi joins MTN from Vodafone Spain.

MTN Group, PCCW Global, Saudi Telecom Company, Telecom Egypt and Telkom South Africa Partner to Construct New Submarine Cable System

MTN Group, PCCW Global, Saudi Telecom Company (STC), Telecom Egypt (TE) and Telkom South Africa have partnered to construct a new submarine cable system which will connect Africa with the Middle East and South Central Asia. The consortium-funded 'Africa-1' submarine cable system will also provide onward connectivity to Europe. Africa-1 will have at least 3-fiber pair core that extends more than 12,000 km along Africaâ s East Coast towards Saudi Arabia, Egypt and Pakistan, with up to an additional 5,000 km for branches. Africa-1 will leverage the latest 100G technology and will be initially equipped to accommodate several terabits of capacity from day one. Along with comprehensive interconnection with other cable systems and full Open Access at all cable landing points, Africa-1 will be technically and commercially be designed to be attractive, delivering easy accessibility and a unique low-latency direct express route. The Construction and Maintenance Agreement is expected to be signed by June, with a target ready for service timeframe of the third quarter of 2017.

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Recent Private Companies Transactions

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Merger/Acquisition
March 24, 2016
--
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February 8, 2016
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