• Monday, September 16, 2024
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BusinessDay

MTN Group posts first loss in 8 years on naira slump

MTN Group plans $215m investment in Benin Republic’s telecom infrastructure

MTN Group has posted its first loss since 2016 after the devaluation of the naira reduced income from its key market, Nigeria.

The group reported a loss of 7.39 billion rand ($414.7 million) in the first half of 2024, compared with 4.14 billion rand profit a year earlier.

Details later…