MTN GROUP LIMITED - MTN signs definitive agreements with Mastercard for a minority investment in MTN Group Fintech
MTN signs definitive agreements with Mastercard for a minority investment in MTN Group Fintech
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(MTN or the Group)
MTN signs definitive agreements with Mastercard for a minority investment in
MTN Group Fintech
MTN yesterday, 5 February 2024, signed definitive agreements with Mastercard for a minority
investment of up to $200 million into MTN Group Fintech B.V. (the Transaction) at a valuation of
$5.2 billion on a cash and debt-free basis. The Transaction, which is non-categorised in terms of the
JSE Listings Requirements, was originally announced on 14 August 2023 and is subject to customary
closing conditions.
These agreements complement the larger commercial relationship between the Group and
Mastercard to support the continued development and growth of technology and infrastructure to
drive financial inclusion across the African continent. This commercial relationship is a key enabler for
the acceleration of our fintech business' payments and remittance services.
MTN will continue to explore opportunities for other value enhancing partnerships and investments,
subject to market conditions, with strategic partners and long-term investors.
6 February 2024
Fairland
Lead sponsor
Tamela Holdings Proprietary Limited
Joint sponsor
J.P. Morgan Equities (SA) Proprietary Limited
Date: 06-02-2024 08:00:00
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