MTN Group announced the sale of its unit in the state of Botswana on the African continent, by disposing of its stake in a joint venture there.
The company said, according to Bloomberg, that the sale of its plant in Botswana comes as it seeks to raise a minimum of 15 billion rand ($ 1.1 billion), in order to boost the company's budget. < / p>
MTN, based in Johannesburg, the capital of South Africa, said the company agreed to sell its 53% stake in Mascom, Botswana, to Econet Wireless Zimbabwe, for $ 300 million. p>
This news comes a year after CEO Rob Shutter announced a review of MTN Markets, which was at that time in the Middle East and Africa to assess ways to simplify business.
The sale of the company's stake in Botswana comes after the disposal of its Cyprus unit for 260 million euros ($ 294 million).
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