MTN selects JPMorgan to help with Fintech listing

Pan-African mobile carrier MTN Group has selected JPMorgan Chase & Co to act as its advisor on the planned separation of its financial technology business Fintech, people with knowledge of the matter were reported as saying. The process is expected to complete by H2 2022 with the group considering a number of possible options, including bringing in partners for some of its businesses as well as possibly listing certain units in the future, to unlock value and pay down debt. In 2021, Nedbank Group reportedly estimated Fintech could be worth as much as USD6 billion.