MTN records first loss in 20 years

It was difficult because of the [Nigerian] fine and its quantum.

Phuthuma Nhleko, MTN

It’s not in anybody’s interest to have [xenophobic] violence here [South Africa] or there [Nigeria].

Phuthuma Nhleko, MTN

The worst is behind us.

Phuthuma Nhleko, MTN

MTN has suffered its first loss in two decades.

On Thursday it reported a headline loss of R1.4 billion.

The Money Show’s Bruce Whitfield interviewed MTN Chair Phuthuma Nhleko about the company’s most challenging year ever.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

The fine is ring-fenced to MTN Nigeria.

Phuthuma Nhleko, MTN

The listing in Nigeria will happen. Part of the settlement of the fine compels us contractually to do it.

Phuthuma Nhleko, MTN

We are pan-Africanist in nature as a company.

Phuthuma Nhleko, MTN

We now have quite a meaningful turnaround in Nigeria and South Africa.

Phuthuma Nhleko, MTN

We’ve repatriated almost 900 million euro from Iran.

Phuthuma Nhleko, MTN

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Jubilant Zimbabweans ‘crying and hugging’ as Robert Mugabe resigns

Jubilant Zimbabweans ‘crying and hugging’ as Robert Mugabe resigns

There’s an outpouring of emotion on the streets of Harare. Bruce Whitfield interviews Rashweat Mukundu.

Joburg restaurant changes racist name after outrage on social media

Joburg restaurant changes racist name after outrage on social media

Ad guru Andy Rice knocks Misohawni, but praises outdoor living retailer REI for closing all 151 of its stores on Black Friday.

How “business rescue” works to save distressed companies

How “business rescue” works to save distressed companies

The Money Show’s Bruce Whitfield interviews Werksmans Attorneys Director Dr Eric Levenstein.

Imagine Naspers without its 34% stake in Tencent (world’s 5th largest company)

Imagine Naspers without its 34% stake in Tencent (world’s 5th largest company)

How much would Naspers be worth without Tencent? Bruce Whitfield interviews Old Mutual Investment Investment Analyst Philip Short.

Funny man Alan Committie gets serious(ish) about money

Funny man Alan Committie gets serious(ish) about money

The Money Show’s Bruce Whitfield interviews Committie about his attitude to money (hopes and fears, successes and failures, etc.).

How to boost your reputation and change the way people see you

How to boost your reputation and change the way people see you

Ian Mann reviews “The Reputation Game: The Art of Changing How People See You” by David Waller and Rupert Younger.

Popular articles
So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Last chance for Spur's 2-for-1 burger special this Monday

Last chance for Spur's 2-for-1 burger special this Monday

Monday (March 27) is your last chance to sink your teeth into the popular burger special which Spur will discontinue from April.

Shop 'til you drop: The top 'Black Friday' deals this week

Shop 'til you drop: The top 'Black Friday' deals this week

Start your Christmas shopping off with a bang at these major retailers offering some impressive discounted sales for Black Friday.

'The university degree is dead'

'The university degree is dead'

Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.