MTN Spent Its War Chest on Towers. Now What?
UphivaBETAR
MTN’s $2.2B IHS Towers acquisition consumes 60% of its fintech war chest. BETAR analyses the balance sheet impact and what it means for MoMo’s product ambitions in 2026–2027.
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Africa telecoms
4 posts
MTN Group FY2025: Nigeria Is Now the Engine
MTN Nigeria generated EBITDA of $1.926B in FY2025 — 84% above South Africa’s $1.048B. Nigeria has overtaken South Africa as MTN Group’s top profit contributor for the first time in the group’s 30-year history.
MTN’s FY2025 Results Validate the War Chest Thesis — Now Comes the Harder Part
MTN Group’s FY2025 numbers confirm the capital is intact and cash generation has accelerated. The harder question: when does the $2B acquisition war chest actually get deployed?
Kenya Sells the Crown Jewel: What the Safaricom-Vodacom Deal Tells Us About Africa’s Fiscal Reckoning
Kenya has approved the sale of a 15% Safaricom stake to Vodacom for KES 204 billion ($1.5B). The real story: a debt-distressed government has monetised Africa’s most valuable fintech asset through a bilateral deal — not the capital markets Safaricom has been democratising.
