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

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Article brought to us by Old Mutual.


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