MTN to Seek Investors for Fintech Unit to Fund Booming Division
- Africa’s largest wireless carrier sees mobile money key driver
- Airtel Africa, India’s Jio have secured fintech investors
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MTN Group Ltd. will look for minority investors in its African fintech unit after separating the division from the carrier’s traditional telecom business, a move to maximize growth in the booming division.
The continent’s largest mobile-phone operator is on track to complete the carve-out by the end of June, according to a statement on Wednesday. A similar move for the fiber-network division is at an earlier stage and will be finalized next year.