The departure of one of the largest telecommunications companies from Yemen… after the escape of “SabaFon” to Aden

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One of the largest telecommunications companies announced the departure of Yemen, after it disposed of Yemeni assets last July.

The MTN Group said today, Thursday, that it will exit Yemen, in implementation of a strategy it announced last year, to leave the Middle East and focus on its core operations on the continent, according to the Reuters Arabic account.

South Africa’s MTN Group, Africa’s largest mobile operator, said it would transfer its stake to a unit of Zubair, the minority stakeholder in MTN’s unit in Yemen.

She emphasized that no other material impact on profits is expected as a result of the company’s exit, as it had completely disposed of Yemeni assets by July 30.

In turn, the CEO of MTN Group, Ralph Mobeta, said: “The decision to exit Yemen came as a result of the need to streamline our equity portfolio and focus our limited resources on implementing an African strategy.”

Last year, MTN announced its exit strategy from the Middle East, with the aim of focusing on the African continent as part of its efforts to streamline its structure and reduce its exposure to riskier markets.

The telecommunications sector faces major obstacles and crises under the control of the Houthi militia, the capital, Sanaa, in 2014, where new administrations were imposed and the shares of participants in the financial assets of various companies and private establishments in the country were confiscated, most notably the telecommunications company “SabaFon”, which left for Aden, after changing the board of directors. It was managed by the militias, and it was subjected to the division of its services and the separation of communication between its subscribers in the areas controlled by the militias and the legitimate government.



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