MTN Group is looking to sell and lease back part of its South African tower portfolio, Bloomberg reports, citing an interview with a new CEO Ralph Mupita. The group’s South African network is understood to comprise around 13,000 cell towers. Former CFO Mupita – who took over from Rob Shuter on 1 September – told the news agency that the company was evaluating ‘the strategic and financial merits’ of the plan. If it goes ahead, the move will build on similar transactions MTN has completed in countries such as Ghana and Uganda, he noted.
The report notes that other potential sales for MTN include its interest in IHS Holding, Africa’s biggest tower operator. The towerco – which has a market value of around USD7 billion – hopes to raise USD1 billion via a listing on the New York Stock Exchange (NYSE).