MTN fell the most in six months after Africa’s biggest mobile-phone company by sales warned that the reinstatement of economic sanctions in Iran had tied up cash in its second-biggest market while debt rose by 22 percent.
MTN’s sale of its Cyprus unit is just the start of a broader exit from small or problematic markets, with the Liberian unit leading a number of West African divisions being considered for disposal, according to people familiar with the matter.
MTN agreed to sell its Cyprus unit to Monaco Telecom SA for about $304 million as Africa’s biggest wireless carrier by subscribers makes good on a pledge to offload unwanted parts if its empire.
There are a number of countries that offer a path to permanent residency through investment, and the lessor known option is the EB-5 Visa in the United States.
South Africa’s Ascendis Health bought two European companies as part of its plan to expand globally and diversify its pharmaceutical products.
Having recently been in transit in Dubai International Airport I was astounded to see that at midnight the busiest restaurant in the terminal was none other than South Africa’s Ocean Basket. I was surprised, that one of my favourite local chains was booming, not only on another continent but in the Middle East of all … Read more