MTN Group transfers majority stake in Yemeni venture to Emerald International

18 Nov 2021

MTN Group has announced its exit from its mobile operation in Yemen in a transaction that it says ‘furthers the delivery of our Ambition 2025 strategy and is in line with our intention – first announced in August 2020 – to exit the Middle East’. In a press release, the carrier confirmed that effective 17 November 2021, MTN Group transferred its majority 82.8% shareholding in MTN Yemen to Emerald International Investment. Emerald is a subsidiary of Zubair Investment Center, an affiliate of Zubair Corporation, which is the minority shareholder in MTN Yemen.

‘The decision to exit Yemen was driven by a need to simplify the portfolio and focus our limited resources on executing a pan-African strategy,’ said MTN Group President and CEO Ralph Mupita.

South Africa, Yemen, MTN Group, MTN Yemen