Share

Shanduka buys stake in MTN Nigeria

Johannesburg - The Shanduka Group has purchased a R2.96bn, minority stake in MTN Nigeria, the company said on Wednesday.

The stake was purchased through the company's subsidiary Shanduka Telecommunication, based in Mauritius, and is the largest investment the company has made outside South Africa, Shanduka Group said in a statement.

"This is Shanduka's most significant investment in another African country. It is a business that is well established within a market that has great potential for further growth. Shanduka will continue to pursue opportunities in other parts of Africa," said Shanduka Group CEO Phuti Mahanyele.

The stake was purchased from three private investors.

MTN Nigeria is the largest mobile operator in Nigeria with over 45 million subscribers and an estimated market share of 48%.

The company is an indirect subsidiary of MTN Group [JSE:MTN], which holds a 78.8% stake.

 
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.4%
Rand - Pound
24.13
-0.1%
Rand - Euro
20.64
-0.2%
Rand - Aus dollar
12.39
+0.3%
Rand - Yen
0.13
+0.4%
Platinum
901.05
-0.2%
Palladium
999.00
-0.7%
Gold
2,149.46
-0.5%
Silver
24.83
-0.8%
Brent-ruolie
86.89
+1.8%
Top 40
65,951
-0.5%
All Share
72,164
-0.4%
Resource 10
53,288
-0.1%
Industrial 25
99,497
-1.0%
Financial 15
16,657
+0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders