MTN exits Middle East

In the January to June period, MTN's subscriber base rose by 10.6 million to 251.5 million compared to end-2019.Africa's largest mobile operator, South African telecoms giant MTN, announced it would pull out of the Middle East to concentrate on Africa, and scrap its interim dividend under a blueprint to navigate the coronavirus pandemic.

The company which was founded in 1994, lists operations in Syria, Sudan, Yemen and Iran in its Middle East file, which also includes Afghanistan. Earnings before interest, taxation, depreciation and amortisation rose 10.9 percent to R41.8-billion."MTN delivered strong results for the period against the backdrop of difficult trading conditions, exacerbated by the unprecedented socio and macroeconomic challenges caused by the COVID-19 pandemic," Shuter said.

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