MTN earns UGX533b from Jumia Stake Sale as the telecom moves to consolidate mobile technology in Africa

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On Friday October 30, 2020, MTN announced the sale of its 18.9% stake in Jumia, a deal which earned the telecom giant in the excess of UGX533b (US$142.31 million). According to MTN, the move to sell off the stake is part of its ongoing efforts to streamline the Group portfolio as well as minimize debt through disposal of non-core businesses. “We are proud to have been a partner in the evol