Mteto Nyati, Chief Executive Officer of MTN South Africa .Photo -GIFT NDOLWANE
JOHANNESBURG -MTN has announced plans to dispose of its 50,02 percent shareholding in internet services provider, Afrihost.
Citing “evolving market circumstances” as having MTN reviewing its ownership in Afrihost, the company announced this is in line with its strategy of focusing on core business and pursuing opportunities in relevant adjacent businesses.
As a result, MTN has agreed to dispose of its shareholding to the executive management of Afrihost.
Mteto Nyati, MTN SA Chief Executive Officer, says the disposal will allow both parties to focus their attention on their core businesses.
“The deal is in line with MTN’s strategy of focusing on core business while exploring relevant adjacent growth opportunities. The conclusion of this transaction will go a long way towards streamlining our operations,” says Nyati.
MTN acquired its shareholding in Afrihost in 2014. Gian Visser, Afrihost’s Chief Executive Officer, says they have enjoyed a “long and fruitful” partnership with MTN over the years and are grateful for everything they have done for Afrihost.
“MTN will remain a key supplier of ours, and we look forward to continue working with them for the years ahead,” says Visser.
– Guardian
