State to sell 34% of MTC

29 Jun 2005

The Namibian government has announced plans to sell off a 34% stake in mobile operator Mobile Telecommunications Company (MTC) to an international or regional player by the end of the year. The state said that the proposed sale would go hand in hand with the transfer of a further 15% stake in MTC to black economic empowerment partners. Interested parties have been given until 15 July to express an interest in the process before the tender is launched. The value of the sale has yet to be disclosed. At the end of March 2005 MTC had 360,000 subscribers to its network, around 90% of which were prepaid.

Namibia, Mobile Telecommunications (MTC)