Home Finance Afrihost buy themselves back from MTN

Afrihost buy themselves back from MTN


Johannesburg – The internet products and services provider, Afrihost have issued a statement in a mail to all it’s registered customers that they will be buying back all the shares owned by MTN in the company. MTN have been owning 50.02% majority shares at Afrihost and as such decided to dispose of its shareholding.

In a statement, Afrihost CEO Gian said Afrihost will be buying back all the shares that MTN own in us and the company is going to relentlessly focus on what it believes to always did best at: Innovation, looking after our team and our clients and working ridiculously hard to give you the best possible value and experience.

Local mobile network services providers also confirmed that it will be selling all the shares they own in Afrihost back to them as it is already approved by the regulators. Mteto Nyati, MTN SA CEO, said in a statement that the disposal would “allow both parties to focus their attention on their core businesses.”

“The deal is in line with MTN’s strategy of focusing on core business while exploring relevant adjacent growth opportunities,” said Nyati.
“The conclusion of this transaction will go a long way towards streamlining our operations” said Nyati.

Meanwhile, Afrihost’s CEO, Gian Visser, said the supplier relationship with MTN will remain.

“MTN will remain a key supplier of ours, and we look forward to continue working with them for the years ahead,” said Visser.