The Johannesburg-based giant had not experienced such a surge for several years. The share price for MTN on Africa’s main stock exchange has been steadily improving ever since Mupita became its CEO in August 2020. After only one year in office, the new Zimbabwean boss has managed to achieve what his predecessor, Rob Shuter, failed to do in four years.
With 277 million customers in in 21 markets in Africa and the Middle East, the group’s shares are now approaching R134 (€7.65), up 103% year-on-year and 124% since the start of 2021.