MTN Group is aware of recent media reports, such as that by Polity and others, about its minority investment in Iran. We would like to clarify some details.
Since 2006, MTN Group has held a 49% investment in Irancell, which is not under MTN’s operational control. When US sanctions were re-imposed against Iran in May 2018 after the US exited the Joint Comprehensive Plan of Action deal, MTN ensured strict adherence to global sanctions regulations and maintained legal and ethical compliance across markets. Since the new sanctions regime, we have not deployed any capital into the Iran business, nor have we extracted any capital or dividends.
In 2020, MTN Group resolved to simplify its portfolio and focus on its pan-African strategy, announcing its intention to exit the Middle East in an orderly manner. MTN Group’s strategy is to lead digital solutions for Africa’s progress. As at 31 March 2025, we served 297 million customers across 16 markets.
We are committed to respecting and protecting human rights within the markets we serve and our broader sphere of influence. Our digital products and services play a critical role in advancing and protecting human rights. We strive to provide these in a manner that does not impede or infringe on the rights of people.
In the US, MTN is a defendant in litigation related to the Anti-Terrorism Act. MTN has deep sympathy for those who have been injured or lost loved ones as a result of the tragic conflicts in Iraq and Afghanistan. MTN Group respectfully defends these cases as the Company was not involved in those tragic events. We regularly provide updates on these cases (including in our Q3 2023 trading update), in which the Group has not been found guilty by any court of any wrongdoing.
MTN Group is chaired by Mcebisi Jonas. South African President Cyril Ramaphosa served as Chairman of MTN Group more than 12 years ago. He resigned in May 2013. Any suggestion that MTN has input into the foreign policy of South Africa is false and misleading. MTN Group’s business decisions are separate from the South African Government’s foreign policy.