{"id":27444,"date":"2012-11-28T09:24:35","date_gmt":"2012-11-28T07:24:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=27444"},"modified":"2012-11-28T09:35:48","modified_gmt":"2012-11-28T07:35:48","slug":"ramaphosas-shanduka-claims-stake-in-mtn","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/27444\/ramaphosas-shanduka-claims-stake-in-mtn\/","title":{"rendered":"Ramaphosa’s Shanduka claims stake in MTN"},"content":{"rendered":"

Shanduka Group<\/a>, founded and chaired by tycoon Cyril Ramaphosa<\/a>, has paid $335 million for a stake in MTN’s Nigerian business.<\/p>\n

Forbes<\/a> recently ranked\u00a0Ramaphosa as Africa’s 36th richest man.<\/p>\n

The acquisition of a ‘minority stake’ has been purchased through Shanduka Telecommunication (Mauritius), a wholly-owned subsidiary of the group.<\/p>\n

Shanduka acquired its stake from three private investors, and represents its\u00a0largest investment outside of South Africa.<\/p>\n

MTN Nigeria is currently the largest mobile operator in Nigeria with 45.64 million active subscribers at the end of September 2012, and an estimated market share of approximately 48%. The company is an indirectly held subsidiary of MTN Group<\/a>, which holds an effective 78.83% stake.<\/p>\n

The investment was facilitated and supported by Standard Chartered, which acted as joint financial advisor and mandated lead arranger.<\/p>\n

Ramaphosa currently serves as independent non-executive director and chairman of MTN Group. He is also a\u00a0prominent\u00a0figure within South Africa’s ruling party, the ANC, having also been touted as a potential presidential candidate..<\/p>\n

Shanduka Group CEO Phuti Mahanyele<\/a> said: \u201cThis is Shanduka\u2019s most significant investment in another African country. It is a business that is well established within a market that has great potential for further growth. Shanduka will continue to pursue opportunities in other parts of Africa.\u201d<\/p>\n

Shanduka’s\u00a0investment portfolio comprises resources, energy, financial services, property, industrial, and food and beverage.<\/p>\n

The group has investments in South Africa, Mozambique, Nigeria and Ghana. Shanduka Group employs over 60 employees, while its investee companies employ more than 180,000 people.<\/p>\n

Related article<\/strong><\/p>\n

MTN Zone numbers impress<\/strong><\/a><\/p>\n

MTN Group subscribers up to 182.7 million<\/strong><\/a><\/p>\n

DA questions MTN bribe accused reinstatement<\/a><\/strong><\/p>\n

Turkcell\u2019s MTN lawsuit put on hold<\/strong><\/a><\/p>\n

MTN lifts interim revenue by 17.5%<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Shanduka Group, founded and chaired by tycoon Cyril Ramaphosa, has paid $335 million for a stake in MTN’s Nigerian business.<\/p>\n","protected":false},"author":9,"featured_media":13540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[1875,1293,26,28,1099,4715,4716],"class_list":["post-27444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-anc","tag-cyril-ramaphosa","tag-headline","tag-mtn","tag-mtn-nigeria","tag-shanduka-group","tag-standard-chartered"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=27444"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27444\/revisions"}],"predecessor-version":[{"id":27456,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27444\/revisions\/27456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/13540"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=27444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=27444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=27444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}