Johannesburg: MTN Group Ltd is seeking a new round of investments in its fintech business, which increased transaction volumes by a third last year, even as Africa’s largest mobile carrier reported its biggest drop in profit in at least 30 years because of the Nigerian naira’s devaluation.
“We are looking at a second round of minority investment into the fintech business,” he said. “We are open to sell up to 30% of the business at the right valuation,” chief executive officer Ralph Mupita told reporters on a Monday call.
