MTN

Telecommunications multinational MTN’s Nigeria and Ghana businesses are performing strongly, supported by robust data demand, disciplined commercial pricing, and healthy competition dynamics. MTN has enviable competitive positions in both markets. In Nigeria, a regulatory-backed price increase provides a further tailwind. Whereas a strong dollar has acted as a headwind for Nigeria’s basket of African currencies, this headwind has become a tailwind as the US dollar continues its weakening trend. The share price has pulled back after results, creating an opportunity to rebuild our position.

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