Category: Media releases
MTN Group’s leadership today met with Ugandan President His Excellency Mr. Yoweri Museveni on the sidelines of his two-day state visit to South Africa, during which they discussed efforts to support the development of the Ugandan economy.
The MTN delegation included MTN Uganda Chairman Charles Mbire; MTN Group President and CEO Ralph Mupita; MTN Uganda CEO Sylvia Mulinge; MTN Southern and East Africa Vice President Yolanda Cuba; and MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo.
Re-iterating MTN’s commitment to Uganda, Mupita proposed facilitating a two-day investment summit in Kampala in May 2023 in collaboration with the relevant government ministries and departments as well as the Forum of South African Businesses in Uganda.
A platform to attract South African agro-processors and other potential investors to the east African country, the two-day event would be a follow-up to the Uganda-South Africa trade, investment and tourism summit held in South Africa this week. Mupita said it would facilitate the participation of those investors identified by the Uganda Investment Authority.
“This year, MTN celebrates 25 years in Uganda. We are driven to create shared value across our markets and offer leading digital solutions for Africa’s progress,” said MTN Group President and Chief Executive Officer Ralph Mupita. “We hope that by facilitating this investment summit we can support the further development of the Ugandan economy and her people.”
MTN Uganda – one of 19 MTN operating companies – was established in 1998. In December 2021, it listed its shares on the Uganda Stock Exchange after the largest initial public offering in Uganda’s history. This gave almost 21 000 Ugandans the opportunity to become owners of MTN Uganda, which is the Ugandan stock with the largest market capitalisation on the USE.
MTN Group and Huawei today signed a memorandum of understanding to strengthen strategic cooperation in environmental, social and governance matters.
The MoU, signed at MWC Barcelona, is aligned with MTN’s Ambition 2025 strategy and Huawei’s Corporate Sustainability Development strategy, including its TECH4ALL initiative.
“Leading digital solutions for Africa’s progress can only be achieved through the power of partnerships,” said MTN Group Chief Sustainability & Corporate Affairs Officer Nompilo Morafo. “Working with companies like Huawei, we can pool our technologies and expertise to drive greater access to connectivity, digital skills and greener and more sustainable solutions to the benefit of all.”
Li Peng, Member of the Huawei’s Supervisory Board and President of the Carrier BG, said Huawei expects to work closely with MTN Group on rural coverage, reaching net zero and digital skills training: “We believe that digital technology will become an important force driving social development and making the world more inclusive and sustainable.”
The Huawei DigiTruck provides free training in digital skills for those in need, including rural communities, the elderly, the unemployed, and girls and women in particular. Converted from a used shipping container mounted on a truck, the DigiTruck is a solar-powered mobile classroom equipped with laptops, smartphones and 4G connectivity.
It is complemented by the Huawei ICT Academy, which trains university students in ICT skills such as 5G, cloud computing and AI. There are 1 900 Huawei ICT Academies in 110 countries, serving around 150 000 students a year.
MTN’s Skills Academy seeks to enhance the link between digital skills training and demand for jobs to ensure that people across the continent are producers, consumers and innovators of digital technologies.
Today’s partnership agreement seeks to accelerate efforts to reach more rural and remote communities and to broaden the portfolio of available digital skills training.
With a significant portion of Africa’s population living in rural areas, MTN is committed to expanding our network to under-served communities and reach a target of 95% rural broadband coverage by 2025. The partnership with Huawei will support the achievement of this target as well as our approach to expand the number of collaborations and the types of partnership models we follow.
MTN and Huawei are collaborating on deploying RuralStar, an affordable connectivity solution for providing online access to remote and rural communities. The solution overcomes traditional barriers that make network connectivity in such scenarios unviable for carriers. The parties will extend their collaboration following the completion of the first RuralStar proof-of-concept in Ghana in 2017.
In terms of reducing carbon emissions, Huawei will support MTN’s commitment to minimise the impact on the planet and achieve net zero by 2040. The partners will work on decarbonising MTN’s telecommunications infrastructure, spanning radio access network (RAN) sites, transport networks, storage and data centres. Network decarbonisation will be done via a mix of energy efficiency technologies and the application of innovative green solutions.
MTN Group President and CEO Ralph Mupita has called for the modernisation and harmonisation of regulatory frameworks across Africa as well as the collective effort of all stakeholders to ensure that the continent can deliver universal broadband coverage by 2030.
“The regulatory frameworks for Africa’s telecommunications industry do not reflect our current advancement. They are still positioned for the era of voice,” he said at the Africa Prosperity Dialogue held at Peduase in the Eastern Region of Ghana over the weekend. The event was attended by several distinguished African leaders including the President of Ghana, Nana Addo Dankwa Akufo-Addo and the former President of Niger and AfCFTA Champion H.E. Issofou Mohamadou.
“As the world continues to undergo major digital transformation and disruption, our regulatory frameworks need to evolve to reflect these technological advancements,” he added in his address on ‘Moving from Ambition to Action: The Role of Telecommunications in Deepening Intra-African Trade, Challenges and Opportunity’.
He spoke of the need for a robust regulatory framework which is relevant and future fit. There was also a need for all participants in the sector to contribute to building and investing in infrastructure: “A fair share contribution by both local and international players including mobile network operators and OTTs”.
Mupita said Africa would need around $100 billion in capital investment to reach its goal of universal broadband for all Africans by 2030.
The Africa Prosperity Dialogue was attended by representatives of governments and business leaders in Africa. Ghana’s President Nana Akufo-Addo commended the organisers and the delegates for their participation.
The Africa Prosperity Dialogue is organised by the Africa Prosperity Network and is aimed at achieving deeper economic integration between African states in outlining its industrialisation priorities. Among topics under discussion were the policies that will ensure the successful implementation of the Africa Continental Free Trade Area (AfCFTA).
The event brought together many Government and business leaders including the Minister of Finance Ken Ofori-Atta and the CEO of the Ghana Investment Promotion Center (GIPC) Mr Yofi Grant. MTN Group Senior Vice President for Emerging Markets Ebenezer Twum Asante, MTN Group Chief Sustainability & Corporate Affairs Officer Nompilo Morafo and the CEO of MTN Ghana Selorm Adadevoh were also in attendance.
MTN, in partnership with ayoba, Africa’s auper app, has reached an exciting 20 million monthly active users on 5th of December 2022. This represents growth of 100% compared to the 10 million monthly active users recorded at the same time last year.
“We celebrate this milestone and are pleased that, through ayoba, we are able to provide accessible communications, so that millions of people across our markets can enjoy the benefits of a modern connected life”, says MTN Group Chief Operating Officer, Jens Schulte-Bockum.
ayoba is available globally with a focus on the African continent. Key markets in MTN’s footprint include Nigeria, Cameroon, South Africa, Ghana, Cote d’Ivoire, Uganda and The Republic of Congo, giving ayoba a strong footprint across Africa.
ayoba was also in the news recently when it was voted “Top Innovative Technology and Telecom Product of the Year” at the Ghana National Communications Awards in November 2022.
ayoba CEO Burak Akinci said: “It has been an exciting year. Providing the best experience to our users has always been our top priority and we are working very hard to improve our service every day. It is a pleasure to see that our efforts are well received and appreciated by our users all around Africa.
“This achievement is the result of listening to our users, understanding their needs and working on multiple aspects of our platform to serve them better. We would like to thank our users who never fail to provide feedback and insightful input.
“We will continue to develop what is a robust messaging service in ayoba, that continues to offer new functionalities, free music service that has grown to millions of streams, high quality games, a wide range of channels with curated local content, and hundreds of new MicroApps”
Strong engagement, growth in 2022 and diversity of content
ayoba has shown immense growth across all verticals this year. Leading the charge is the music streaming service, with its focus on local content and growth in streams of 174% in 2022. In terms of engagement, our users viewed 225 million cards across 150 channels on a variety of topics led by football updates, tech and entertainment news, food and fashion, rugby and other sports.
Our French language content was led by influencer Muriel Blanche and Adamant Media, with francophone comedy. In 2022, we launched three new Arabic channels providing growth in content for markets like Sudan, covering entrepreneurship, football and other issues.
In December 2022, the year on year growth for messaging was 125% (messages sent), games by 208% (plays) and MicroApps by 322% (sessions). Ayoba users posted 85 million stories, updating their friends and family on their activities and interests.
“This is a phenomenal endorsement of our ‘Made in Africa for the World’ strategy” continued Akinci. “We believe in the vast potential of African digital talent and do our best to support them, from training to hackathons and accelerator programmes. 2023 will be even more exciting with all the new features and services we plan to introduce to make the ayoba platform the gateway to the digital economy for start-ups across different markets in Africa.
ayoba is an application open to all networks developed as a partnership initiative with MTN. ayoba users receive free daily data in participating markets. The platform is part of MTN’s Ambition 2025 strategy, which targets 100 million monthly active users by 2025.
10 reasons to use ayoba:
1. FREE TO USE: ayoba is free to use – including all of our amazing features! You need data to get onto the internet, but if you are on the MTN network in selected countries, you will get free data every day to use the app.
2. CHAT AND CALL NOW: Instantly send and receive text and voice messages, voice notes, as well as voice and video calls with any of your contacts. Please note that Voice and Video call are subject to standard data charges for all users.
3. SECURE: End-to-end encryption means that messages in a conversation cannot be read by anyone else.
4. FIND YOUR FRIENDS: Use your existing address book to quickly and easily connect with your contacts.
5. CHAT WITH EVERYONE: Send SMS text messages to anyone in your contact list, regardless of whether they’ve installed ayoba or not. If the friend you send to does not have the app, the message will be delivered by SMS. They can respond by SMS and it will come back into your app. This is a unique technology.
6. GROUP CHAT: The more the merrier! Set up group chats to easily communicate with friends and family in a single chat.
7. SHARING IS CARING: Share videos, images, audio, and other files with your contacts.
8. LET’S MEET: Share your real-time location with your ayoba contacts.
9. CHANNELS: Free access to consume all content across various categories ranging from news, sports, fashion, music, education to entertainment and much more, all within the ayoba app. All of our channels are Africa centric – such as the Black Star channel for Ghana, Scrolla Africa in IsiZulu, Yoruba & Hausa, Pulse Channels for Nigeria and Ghana covering business news, current affairs and entertainment; with over 20 artist channels highlighting African musicians.
10. LISTEN AND PLAY: Our free music service allows users to listen to trending songs in our fantastic playlists, featuring the best of local and international music. We have games that you can play as well, such as Subway Surfers, CR7 Strike, Car Rush Spore Hunter, BattleShip, Pinball, Solitaire and more. New content is added every day.
MTN South Africa and MTN GlobalConnect, in partnership with the 2Africa consortium, which includes China Mobile International, Meta, MTN GlobalConnect, Orange, center3, Telecom Egypt, Vodafone and WIOCC, are pleased to land the 45 000km 2Africa cable in Yzerfontein and Duynefontein, South Africa.
For MTN GlobalConnect, this landing is the first in a series of six across five countries: South Africa (*two), Sudan, Cote D’Ivoire, Nigeria and Ghana, will allow MTN GlobalConnect to showcase, in a tangible manner, the importance of connectivity and creating cross border networks, that connect Africa to the rest of the world. The 2Africa cable connection will go live in 2023.
This subsea cable will lay the foundation for improved global internet access, connecting people and continents. Once live, it will play a big part in delivering much-needed capacity in Africa from Europe, the Middle East and Asia. The 2Africa landing is one of several cable landings taking place across 46 locations in 33 countries.
MTN Group President and CEO Ralph Mupita said: “Strategic partnerships such as the one we have with the 2Africa consortium will help us accelerate and deepen internet adoption and socio-economic progress across the African continent. Data traffic across African markets is expected to grow between four and five fold over the next 5 years, so we need infrastructure and capacity to meet that level of growth and demand”.
Our target, which is underpinned by MTN’s Ambition 2025 strategy, is to rollout a total of 135 000 km of proprietary fibre by 2025, generating up to US$1 billion in revenue. Entrenching MTN as the number one African fibre player, by building subsea and terrestrial scalable capacity and resilience.
This cable landing adds to another milestone to the digital railroads we are building around Africa, making telecommunications accessible and available.
MTN GlobalConnect CEO Frédéric Schepens said: “MTN GlobalConnect is pleased to participate in this bold 2Africa subsea cable project. The initiative complements our terrestrial fibre strategy to connect African countries to each other and to the rest of the world. We are building scale infrastructure assets to meet the explosive growth in data traffic and accelerate the digital economy on the continent, by creating a pan-African fibre railroad driving affordable connectivity.”
He added: “We are proud of the progress made on our journey and of the key role we are playing in providing South Africans and the rest of Africa with the benefits of a modern connected life.”
The 2Africa subsea cable system will support the western and eastern sides of Africa, once complete in 2023 and 2024 respectively. This means that South African service providers can acquire capacity in carrier-neutral data centres or open-access cable landing stations on a fair and equitable basis. This will support the development of a healthy internet ecosystem by facilitating improved internet accessibility for businesses and consumers alike.
MTN GlobalConnect – which is the 2Africa landing party in Duynefontein and Yzerfontein – has partnered with MTN South Africa to complete the landing on South African soil. The Yzerfontein landing will support the 2Africa West cable and the MTN South Africa landing station in Duynefontein will support the 2Africa East cable.
The cable, with a design capacity of up to 180 TBps. on key parts of the system, will deliver much-needed internet capacity, reliability, and improved internet performance across large parts of Africa; supplement the fast-growing capacity demand in the Middle East; and underpin the further growth of 4G, 5G and fixed broadband access for millions of people.
We are proud to form part of a consortium which is aligned to delivering on our Ambition 2025 strategy: Leading digital solutions for Africa’s progress, by investing in connectivity to improve global economic growth, while uplifting the livelihoods of many in South Africa and the rest of Africa.
MTN Zambia today launched our 5G network, becoming the first mobile operator in Zambia to offer 5G services commercially after successfully undertaking trials of the transformative technology over the past 11 months.
His Excellency Mr. Hakainde Hichilema, President of the Republic of Zambia, presided over the occasion, which took place at Mulungushi International Conference Centre. Several Zambian government ministers and representatives of the sector regulator and central bank were also in attendance. Leading the MTN Group delegation were Chairman Mcebisi Jonas, Group President and CEO Ralph Mupita and Southern and East Africa Vice President Yolanda Cuba.
“The launch of this ultra-fast communication capacity serves as a clear indication of MTN’s commitment to being a major player in Zambia’s digital economy,” said Jonas. “We look forward to continuing to work together to meaningfully impact the growth and development of Zambia.”
Mupita said MTN Zambia was the Group’s third operation in Africa (after Nigeria and South Africa) where 5G services were now commercially available. “5G can transform business and livelihoods beyond simple connectivity, with the potential to unlock many new use cases,” he said. “In Zambia, we see great opportunities across many sectors, and in the mining industry in particular.”
MTN Zambia CEO Bart Hofker said MTN’s 5G services had been activated to cover about 65% of the population in the cities of Lusaka, Kitwe and Ndola as well as parts of Chingola, Solwezi and Kalumbila. This translates into about 15% of the population. “We plan to reach 100% 5G coverage in Lusaka, Kitwe and Ndola by the middle of 2023, while gradually expanding the 5G network to other locations,” he said, adding that MTN Zambia customers need a 5G-enabled device to connect to the 5G network where it is available.
5G is essentially fifth-generation mobile network technology which offers faster speeds, lower latency, better security and stability and the ability to handle high volume connections and mobile data. It can connect virtually everyone and everything, including machines, vehicles and robots in future. For industries like mining and manufacturing, the network can be used to automate processes to increase capacity and efficiency. 5G also has the potential to be a driving force for innovation and entrepreneurship.
The introduction of 5G is part of a wider network strategy for MTN Zambia. Other programmes involve the optimisation and modernisation of existing 3G and 4G networks, the building of a fibre ring in Zambia with MTN GlobalConnect, as well as the extension of coverage in more rural areas. Through our rural connectivity programme, MTN Zambia and our partners plan to use cost-effective coverage alternatives to launch 45 rural sites in 2022 and another 100 in 2023.
To address Africa’s digital skills gap, MTN Group, through some of its operating companies, is partnering with SAS Training, Courses & Classes to train up to 100 young people in data analytics. This is part of the MTN Skills Academy’s work to promote digital skills for digital jobs, in turn supporting MTN Group’s strategic intent of providing digital solutions for Africa’s progress.
Polaris Market Research puts the 2021 value of the global data science platform market at $95 billion and expects it to expand at a compound annual growth rate of more than 27% through to 2030, driven by the increasing data volumes being generated by organisations.
“For Africa to realise its full potential, we need to address the lack of skills funding,” says MTN Group Senior Vice President for Markets Ebenezer Asante, adding that eight MTN operating companies had assigned learners to participate in the training that the Group is providing through its partnership with SAS.
“Africa has the largest and fastest-growing youth population in the world. While this holds tremendous development promise, youth unemployment statistics remain a cause for major concern. It is only by investing in developing the right skills that we are going to overcome this challenge,” Asante adds.
Essie Mokgonyana, SAS Country Manager & Sales Director for South Africa, says: “We are committed to supporting public and private organisations across Africa adopt cloud platforms to tap into the full potential of their analytic capabilities and resources to accelerate innovation and higher operational efficiencies. And key to this support is being a part of the change; to create and sustain skills-based training programmes that not only meet industries’ needs for critical data science skills while offering the youth of today opportunities to access gainful professional advancement and employment tomorrow but lay the path for future talent pipelines. We are exceptionally proud to partner with MTN Group on this programme that bodes enormous potential for all parties involved.”
The training initiative consists of a six-week programme, the first part of which is self-paced and the second contains live instructor-led courses.
“During this programme all participants will have full access to SAS® Skill Builder for Students, which includes a repository of resources to help participants learn SAS Data Science skills; from free online courses for certification purposes to exam preparation materials, and practical case studies where participants can learn more about how SAS software solutions are used in the industries they’re interested in and for their career advancement,” says Adesh Nathalal, Education Manager at SAS in South Africa.
After the initial six-week programme, half the participants will undergo further training with MTN’s in-house data analytics academy.
“This initiative is part of the work of the broader MTN Skills Academy to equip young people with the skills that are in high demand, in turn making them more employable,” says Asante, adding that MTN is committed to closing the skills gap and contributing to youth empowerment wherever we operate.
Supported by the solid performance of large subsidiary MTN South Africa, MTN Group today reported resilient overall results for the first nine months of 2022, under difficult macroeconomic, geopolitical and regulatory conditions across our markets.
Total MTN Group subscribers increased by 6.8% to 285 million; our fintech business’s customer base rose by 23.3% to 63 million; and fintech transaction volumes increased by a third to 9.5 billion.
MTN South Africa – which is the second-largest contributor to MTN Group service revenue after MTN Nigeria – grew subscriber numbers by more than 800 000, or 8.1%, to 35.9 million in the period to 30 September 2022. Service revenue growth of 3.5% was impacted by loadshedding and revenue concessions that supported the recapitalisation of national roaming customer Cell C.
MTN South Africa’s enterprise business continued to expand, delivering service revenue growth of 19.7%. The consumer postpaid business was resilient, with growth of 4.2%. The rising cost of living and the impact of loadshedding was felt most acutely in the consumer prepaid market, where service revenue grew by 0.4% in the period.
“Amid unprecedented loadshedding which negatively affected network availability, MTN South Africa expanded market share, delivered encouraging underlying service revenue growth, strong expense controls and investment in network resilience and expanding the 5G coverage,” said MTN Group President and CEO Ralph Mupita.
“Supported by an increase in smartphone penetration, MTN SA continued to make data more affordable: the effective data tariff reduced by 23.4% year on year. This helped stimulate usage for both prepaid and postpaid subscribers. Work on network resilience and availability progressed well, but persistent loadshedding in the last quarter of the year could impact revenue growth, particularly in the consumer prepaid market,” he added.
Over the past week, MTN Group’s listed subsidiaries in Nigeria, Ghana, Rwanda and Uganda have released detailed third quarter trading updates. These operations contributed to the overall increase of 14.3%, in constant currency, to R144 billion in MTN Group service revenue; strong growth in data traffic and fintech transaction volumes; and the expansion of the Group EBITDA profit margin to 45.3% in an environment of elevated energy and general inflation.
The Group maintained a strong balance sheet with the early partial settlement of US$300 million of 2024 Eurobonds, resulting in lower hard currency debt and reducing the holding company leverage to 0.8x. The Group’s liquidity position remained strong with cash and committed undrawn facilities totalling R59 billion. Cash upstreaming of R11.5 billion from operations in the first nine months of the year was further improved with R1.5 billion in cash repatriated from Nigeria in October 2022, after the period close.
In line with our Ambition 2025 strategy, the Group announced progress with Middle East exit plans, having entered into agreements with M1 New Ventures to dispose of the shareholding in MTN Afghanistan for a gross consideration of US$35 million, subject to transition agreement and regulatory approvals.
MTN Group also reported progress with its process of strategic minority investment into the Group fintech business, noting that it was now in the binding offer phase and expecting outcomes in early Q1 2023.
“We are encouraged by the growth and expansion of the fintech ecosystem as we see robust transaction volumes driven by growth in customers, agents and merchants,” said Mupita. “In the near term, revenue growth has been impacted by new taxes in a few markets, but we continue to see the case for structural and compelling growth for fintech services in the medium term that will deepen financial inclusion across Africa.”
As to the outlook for the rest of the year, Mupita said it remained challenging given the difficult geopolitical conditions and macroeconomic environment globally, but that MTN Group was well positioned to withstand any shocks or take advantage of growth and value-creating opportunities that may arise.
MTN Group and Microsoft today announced a strategic alliance agreement to accelerate digital and cloud transformation working towards a shared vision of driving Africa’s growth. The agreement is in support of MTN’s strategic intent of leading digital solutions for Africa’s progress to support governments, businesses of all sizes and customers using the versatility of Microsoft platforms, solutions and capabilities to accelerate value creation.
The agreement centres on transforming and modernising MTN’s communications and technology infrastructure together with harnessing capabilities and building the largest and most valuable platform business with a clear focus on Africa.
“We are delighted to be partnering with Microsoft – a company with the strength and scale to complement MTN’s capabilities and to support our Ambition 2025 strategy,” said Group Chief Strategy and Transformation Officer Chika Ekeji. “Together we will use the power of technology and connectivity to innovate and accelerate the digitalisation and development of the continent.”
Furthermore, the two companies will develop joint go-to-market plans across the major markets where MTN operates to serve the digital transformation ambitions of African enterprise customers. Microsoft will invest in skilling MTN Group resources to drive focused selling of Microsoft’s products and cloud services in Africa.
“Our valuable, longstanding partnership with MTN will play a pivotal role in Africa’s digital transformation, and we are proud to continue building on that decade-long collaboration with our newest venture. We recognise the potential that Africa holds to stand among the leaders of the digital world, and we are committed to maximising our partnerships to deliver infrastructure that accelerates this transformation and enables a connected, digital-first continent,” says Samer Abu-Ltaif, Corporate Vice-President and President of Microsoft Middle East and Africa.
In addition to the cloud transformation and joint enterprise go-to-market plans, the partnership includes ongoing knowledge-sharing, innovation and growth opportunities. Joint initiatives will be in areas such as digital education, micro-SME digitisation, fintech and gaming, thereby creating shared value and extending digital and financial inclusion across Africa.
“Our partnership with MTN will empower and enable the future growth of Africa through the joint development of innovative solutions; a dedicated focus on digital skilling and education; robust go-to-market strategy transformation; and the advancement of SMMEs and industries to compete on the global digital stage”
The parties will also execute a carrier agreement which will position MTN as a major provider of terrestrial connectivity to support Microsoft’s Africa-based expansion plans.
Both companies strongly believe that digital transformation, particularly when leveraging the power of the cloud, presents an opportunity for the continent to leap ahead and benefit from widespread socio-economic growth.
Sanlam and MTN Group are pleased to announce that our strategic alliance to market and distribute insurance and investment products across Africa has reached a significant milestone with the fulfilment of the regulatory, competition and other requirements. The effective date of the transaction is 31 October 2022.
The strategic alliance will be implemented through MTN Group’s InsurTech platform aYo Holdings (aYo) and each partner will hold 50% of aYo.
Through aYo, the alliance will continue to build and develop digital insurance and investment offerings that provide people across Africa with easier access to Sanlam’s products, particularly those people who have typically been unable to access traditional distribution channels.
MTN Group President and CEO Mr Ralph Mupita said the alliance was aligned to the Group’s strategic intent to lead digital solutions for Africa’s progress: “We are confident that this alliance will build and leverage the strengths and assets of both companies to establish a digital insurance and investment capability across Africa.”
Said Sanlam Group CEO, Mr Paul Hanratty: “We are delighted to reach such a critical stage in our drive to deepen penetration of insurance and investment products across Africa through strategic partnerships.”
We are confident that a strong foundation is in place for this alliance. Sanlam believes that this strategic alliance with the MTN Group will make a considerable contribution to financial inclusion in Africa.”
By leveraging off the MTN brand, Sanlam’s licensing, broad product capabilities, financial services expertise and both group’s geographical footprint across the continent, the alliance has the potential to pre-empt and adapt to digital disruption in markets where both companies operate.