MTN has recently entered into definitive agreements with Mastercard for a minority investment of up to $200 million in MTN Group Fintech B.V. This transaction has been valued at $5.2 billion, based on a cash and debt-free basis. It is important to note that this transaction does not fall under any specific category as per the JSE Listings Requirements. The announcement of this transaction was made on 14 August 2023, and it is still subject to customary closing conditions.
These agreements with Mastercard further strengthen the existing commercial relationship between MTN and Mastercard. The aim of this relationship is to support the ongoing development and growth of technology and infrastructure, with the ultimate goal of promoting financial inclusion across the African continent. This commercial relationship plays a crucial role in facilitating the expansion of our fintech business’ payments and remittance services.
MTN remains committed to exploring additional opportunities for partnerships and investments that can add value, provided that market conditions are favorable. These opportunities will be pursued with strategic partners and long-term investors.