MTN Group Limited may sell part or all of its $243 million interest in Jumia Technologies AG as Africa’s biggest wireless carrier looks to pay down debt and enter new markets.
Johannesburg-based MTN has been disposing of non-core assets as part of the company’s strategy to reduce debt and drive future growth.
The company also has a 29percent stake in IHS Towers, which it may sell in the future, one of the people said. Africa’s largest wireless carrier by footprint has generated 14 billion rands ($812 million) in asset sales that included selling its towers holdings in Ghana and Uganda to American Towers Inc. The company plans include bidding for a license to enter Ethiopia, one of the largest markets that have not yet privatized its telecommunications industry.