Added to YB: 2026-10-14
Pitch date: 2026-10-10
MTN.JO [bullish]
MTN Group Limited
+2.17%
current return
Author Info
No bio for this author
Company Info
MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.
Market Cap
ZAR 339.1B
Pitch Price
ZAR 183.02
Price Target
N/A
Dividend
2.70%
EV/EBITDA
4.35
P/E
19.21
EV/Sales
2.01
Sector
Wireless Telecommunication Services
Category
growth
The Side Door to Lagos ($MTNOY $MTN.Jo)
MTN.JO: MTN Group is the internationally accessible side door to Nigeria’s reform-led recovery, earning 35.5% of EBITDA there at a 55.9% margin. At R184.85, it trades at ~11x 2026 earnings with a ~5% shareholder yield; the base case needs no rerating and the bear case roughly breaks even. Buying IHS should reduce devaluation-sensitive tower rent, but naira and election risk remain decisive; build in tranches around the January 2027 vote.
Read full article (15 min)