MTN’s share price has risen from R97.50 to R103.39 this week
MTN’s shares have risen about 16% so far in April, setting the mobile operator on course for its best monthly performance in almost three years, as the value of the mobile operator’s stake in e-commerce business Jumia has nearly tripled in just three days.
“The listing provides market reference to value for Jumia, which has not previously been visible, and this should reflect into the MTN Group share price,” the company said. This is the first time the network operator’s shares have crossed the R100 mark since August 2018, when Nigeria’s central bank demanded it return $8.1bn in dividends, sending its stock crashing to below R70 by mid-September.
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