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June 02, 2015 12:26 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. 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 Executive Officer, President and Executive Director
Age: 56
Total Annual Compensation: $22.6M
Founder and Chief Executive Officer of South Africa Operations
Age: 53
Total Annual Compensation: $14.3M
Chief Financial Officer, Financial Director and Executive Director
Age: 49
Total Annual Compensation: $12.3M
Group Chief Operating Officer
Age: 44
Total Annual Compensation: $4.4M
Chief Executive Officer of Nigeria Operations
Age: 44
Total Annual Compensation: $10.9M
Compensation as of Fiscal Year 2014.

MTN Group Limited Key Developments

MTN Group Limited Announces Earnings Results for the First Four Months of 2015; Provides Capital expenditure Guidance for the Year 2015

MTN Group Limited announced earnings results for the first four months of 2015. While the group's year to date organic revenue increased marginally, reported revenue declined year on year with the weaker exchange rates being a drag of some 6%. This was predominately driven by the Naira which has weakened by 9.0% against the rand over the same period in the prior year. The group's earnings before interest, tax, depreciation and amortisation (EBITDA) has declined when compared to the same period last year, largely due to weakness in the Nair relative to the Rand. Despite lower than anticipated revenues, the Group continues to execute well on cost optimisation initiatives across the majority of operations. Total Capital expenditure (capex) is flat year on year. For the year 2015, the company expects full year Capital expenditure of ZAR 30 billion. Importantly, The company expects a total Capital expenditure investment of ZAR 10 billion for MTN South Africa in the year.

MTN Announces Call Centre Closed on May 24, 2015 as the Strike over Pay and Bonuses

MTN's call centre was closed on May 24, 2015 as the strike over pay and bonuses at the company continued. The cellular communications company also had to close its e-billing portal after security flaws were exposed. Call centre staff in Gauteng and Limpopo had been on a go slow, and then went on a protected strike on May 20, 2015. Communication Workers Union said so far the issues resolved included an agreement to convert casual staffers into permanent staff employed by MTN; double pay for working on a Sunday or a public holiday; and that the dispute over whether they had enough union members at MTN to be recognised, would be dealt with in an audit process starting on May 26, 2015. On the issue of the bonus, CWU had dropped its demand from 16% to 12%, and on salary increases, from 10% to 8%.

MTN Reportedly Acquires Telecel Zimbabwe

MTN Group Limited (JSE:MTN) is planning to buy TeleceL Zimbabwe Pvt. Ltd. Information Communication Technology and Courier Services minister Supa Mandiwanzira is reported to have revealed that MTN has taken over Telecel Zimbabwe, at least two people in closer to the talks have revealed. Potraz had given a notice of 30 days to Telecel Zimbabwe on April 28 for completing operations on the basis, which the firm had failed to comply with the country's indigenisation laws and to pay for its licence fees. In its regulatory order 1/2015, Potraz has seen a letter from the ICT minister dated 02 April that was an acceptance by the government of Global Telecom's offer to sell its indirect 60% stake in Telecel to the government.

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