MTN Namibia to sell 30 percent shareholding to break monopoly

MTN Namibia plans to sell a 30 percent shareholding to local shareholders, according to local reports from the country.

The telecom company said: “Interested investors are invited to submit a letter of intent to purchase shares of MTN Business Namibia, which makes up 30% of the share capital.”

MTN Namibia managing director, Manfred Engling told The Namibian on Tuesday that the company was granted an Internet Service Provider licence last year and said the government has initially wanted the company to sell 51% stake which was later reduced to 30%.

“We have not yet determined what the value of the stake will be,” Engling said. He said the company is looking for investors “who will add value to the company and help it expand.”
“We want to provide more services,” he said.

Presently, the company has mainly been a reseller of various IT solutions. But with the ISP licence, the company now offers other services including fibre network solutions.