What could drive a rerating for MTN from here?

MTN’s resurgence over the last 12 months likely still does not consider the group’s nascent fintech and digital service offerings. Just how much could non-traditional revenue boost the group’s fortunes?

Ninety One’s Samantha Hartard says while MTN’s asset realisation strategy has seen the group sell towers in Africa, it has a 29% stake in IHS Towers, which will list on the New York Stock Exchange soon.

“This could provide a large value unlock and is a long-awaited initial public offering (IPO). Management has begun to address it in roadshows, but there will be stringent terms dictating when and how MTN can sell down its stake in IHS. It could take three years for