Mtn, Led By Zimbabwe's Ralph Mupita, Completes 360 Million Share Buyback

MTN Group repurchased 50.6 million shares worth 360.2 million from its empowerment vehicle, settling legacy NVF debt and closing MTNs BEE scheme.

The buyback was fully funded through internal reserves, reflecting MTNs robust liquidity while sustaining long-term strategic growth initiatives.

With 297 million users across 16 markets, MTN is accelerating fintech, network-sharing, and satellite efforts, positioning itself as a leading pan-African digital service provider.

MTN Group, Africas largest telecom service provider, led by Zimbabwean executive Ralph Mupita, has completed a significant share repurchase worth R6.43 billion 357.8 million from its empowerment vehicle, MTN Zakhele Futhi MTNZF.

The transaction forms a core part of the accelerated unwind of its 2016 Black Economic Empowerment BEE scheme, signaling MTNs focus on balance sheet optimization and shareholder value creation.

The buyback follows the early exercise of a Notional Vendor Funding NVF call option granted by MTNZF and settled on June 23, 2025 .

As a result, MTN repurchased 50,590,890 shares, equivalent to 2.68 percent of its issued share capital, at a nominal R0.0001 per share. The deal fully settles the NVF obligation, ahead of the schemes revised 2027 maturity which was brought forward for strategic reasons.

As part of the process, MTNZF also sold 23.77 million shares via an accelerated book build and will offload another 2.48 million residual shares on the open market. Once completed, MTNZF will become a cash shell with a projected net asset value of R2.47R2.78 billion 137154 million.