Despite promises by Zimbabwean Finance Minister Mthuli Ncube to stabilise the southern African country’s currency, it keeps plunging with the ... Reserve Bank of Zimbabwe (RBZ) auction results showing that the exchange rate stands at Z$732 against the US dollar, up from Z$705 last month.
MTN has grand ambitions. It hopes to expand its reach beyond South Africa with a bid for one of Ethiopia’s new telecoms licences, lodged on 26 April. In so doing, it partnered with large Chinese government financiers: the Belt and Road Initiative known as the Silk Road Fund.
And MTN hopes to grow its offer into a payments and communication ecosystem that rivals those offered by China’s WeChat, or Apple or Facebook, and other US tech giants.