South African Shanduka Group acquires $335million stake in MTN Nigeria

South African investment group, Shanduka, has revealed that it has acquired a $335million stake in MTN Nigeria.  This, a minority stake in the largest telecommunication provider in Nigeria, was acquired from private investors. MTN Nigeria is part of the South African MTN Group, with %78.83 held by MTN Group. Speaking on the acquisition, the CEO of Shanduka Group, Phuti Mahanyele, said, “This is Shanduka’s most significant investment in another African country. It is a business that is well established within a market that has great potential for further growth.”