Former deputy finance minister Mcebisi Jonas has been appointed an independent nonexecutive director of MTN.
"Mcebisi is currently one of four independent presidential investment envoys, appointed by President Cyril Ramaphosa to attract investors to SA," MTN said in Monday’s announcement.
MTN also appointed former Transnet group treasurer Swazi Tshabalala as an independent nonexecutive director.
Besides announcing its new board appointments, MTN released the March quarter financial statements of its Nigerian business on Monday morning ahead of its initial public offering (IPO).
MTN Nigeria reported revenue of 249-billion naira (about R8.7bn) and net profit of 32-billion naira (about R1bn) for the three months to end-March.
Revenue was up 14.5% and net profit was up 44% from the matching period in 2017.
The mobile operator said in an operating update on May 3 that it was making good progress in listing its regional units in Nigeria and Ghana. It has received all regulatory approvals in Ghana and expects to launch the IPO process shortly. It expects to complete its Nigerian IPO in 2018.
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