Afghan Voice Agency (AVA): According to a Bloomberg report published on Thursday, October 3, (MTN) has sold its stake in Afghanistan worth 35 million dollars to the company (M1 New Ventures) based in Beirut.
According to this report, MTN, Africa's largest wireless telecommunications company, is trying to reduce its presence in the Middle East.
The withdrawal of this telecommunications company from the Middle East, which is headquartered in South Africa, has been noticed since August 2020.
According to Ralph Mopita, CEO of MTN, this business group is trying to reduce the company's business risks by leaving the Middle East and focusing on Africa.
Since 2020, the wireless operator has narrowed its focus on its home continent and targeted high-growth areas such as data sales and mobile money.
With a 40% share in the market, MTN is the largest telecommunication operator in Afghanistan.
MTN operates in 19 markets across Africa and the Middle East and has 286.1 million subscribers by the end of June 2022.