South Africa’s MTN swings to H1 loss as Nigeria currency devaluation weighs

JOHANNESBURG: MTN Group, Africa’s biggest telecoms operator, swung to a half-year loss on Monday, weighed down by devaluation of the Nigerian naira and operational challenges in Sudan.

The operator with 288 million customers across 18 markets in Africa reported a headline loss of 256 cents per share in the six-month period ended June 30, compared with restated headline earnings from a year earlier at 260 cents a share.