Enhanced Investments - Financial Portal

MTN signs definitive agreements with Mastercard for a minority investment in MTN Group Fintech

Published: 2024-02-06 09:00:37 ET

MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registra�on number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(MTN or the Group)

MTN signs deﬁni�ve 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 con�nue to explore opportuni�es for other value enhancing partnerships and investments,
subject to market condi�ons, with strategic partners and long-term investors.

6 February 2024

Fairland

Lead sponsor
Tamela Holdings Proprietary Limited
Joint sponsor
J.P. Morgan Equi�es (SA) Proprietary Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.