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MTN CEO Starts Job by Committing to Investment in Larger Markets

  • First-quarter sales rose 7.1 percent boosted by Nigeria, Iran
  • Carrier still has ‘work to do’ to meet full-year targets
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Rob Shuter used his first quarterly report as chief executive officer of MTN Group Ltd. to commit the wireless operator to major investments in its biggest markets of Nigeria, South Africa and Iran.

The spending plan “is expected to support further market share gains,” Shuter said in a statement on Wednesday. Africa’s largest carrier will also strive to take advantage of the continent’s relatively low data use and increase the range of services, he said.