MTN Group Limited is a South African multinational mobile telecommunications company that operates in 20 African countries and the Middle East. It is the largest mobile network operator in Africa, with over 289.1 million subscribers as of December 2022. MTN is headquartered in Johannesburg, South Africa, and is listed on the Johannesburg Stock Exchange (JSE) under the share code MTN.
MTN was founded in 1994 as M-Cell with assistance from the South African government. It launched its mobile network in South Africa in 1995 and quickly expanded into other African countries. In 2001, M-Cell changed its name to MTN Group to reflect its international presence.
MTN provides a wide range of mobile telecommunications services, including voice, data, mobile money, and enterprise solutions. It is also a leading provider of mobile financial services in Africa, with its MTN Mobile Money platform having over 68.5 million active users.
Ownership structure
MTN is a publicly traded company, with shares listed on the JSE. The majority shareholder in MTN is MTN International (Mauritius) Limited, which owns 76.08% of the company’s shares. The remaining shares are owned by a variety of institutional and individual investors, including two Nigerian companies, Cell Telecommunications (18%) and Mobile Communications Investment (4%).
Economic impact
MTN is a major economic player in Africa. It employs over 25,000 people directly and indirectly supports millions of jobs through its supply chain and operations. MTN also contributes significantly to government tax revenues in the countries where it operates.
In addition to its economic impact, MTN also plays a significant role in social development in Africa. The company has invested heavily in infrastructure and educational programs in the communities where it operates. MTN also supports a number of charitable initiatives, including the MTN Foundation, which focuses on education, health, and enterprise development.
FAQs
Is MTN a South African company?
Yes, MTN is a South African company. It was founded in South Africa in 1994 and is headquartered in Johannesburg.
Who owns MTN?
MTN is a publicly traded company, with shares listed on the Johannesburg Stock Exchange. The majority shareholder in MTN is MTN International (Mauritius) Limited, which owns 76.08% of the company’s shares.
What countries does MTN operate in?
MTN operates in 20 African countries and the Middle East. These countries are: Benin, Botswana, Cameroon, Côte d’Ivoire, Cyprus, Eswatini, Ghana, Guinea-Bissau, Guinea Conakry, Liberia, Malawi, Mozambique, Namibia, Nigeria, Rwanda, South Africa, South Sudan, Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.