MTN Group is a pan-African telecom operator with strong subscriber positions, but Nigeria forex-repatriation constraints create meaningful translation and cash-flow risk. Operations in Uganda and Rwanda remain robust. The equity is a neutral hold balancing emerging-market growth against currency and repatriation drag.
Thesis reviewed May 29, 2026
MTN Group Ltd. (ADR) is headquartered in South Africa, which is currently showing moderate signals.
🇿🇦South Africa48NEUTRALView South Africa risk detail →📡Telecom29NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| ORAN | Orange S.A. | 33 | +1% | ↑1% | NEUTRAL |
| VOD.L | Vodafone | 33 | — | ↑1% | NEUTRAL |
| NOK | Nokia Oyj | 33 | +1% | ↑1% | NEUTRAL |
| CHA | China Telecom Corporation Ltd | 33 | +8% | ↑1% | NEUTRAL |
| T | AT&T Inc. | 33 | +2% | ↑1% | NEUTRAL |
| ERIC | Telefonaktiebolaget LM Ericsson | 33 | +5% | ↑1% | EARLY |
| VZ | Verizon Communications Inc. | 33 | +1% | ↑1% | NEUTRAL |
Investors who hold MTNOY may also have indirect exposure through these country funds.
Nigeria forex shortages constrain MTN cash repatriation
MTN East Africa operations show steady subscriber growth
Estimates · Yahoo Finance · Not audited figures