MTN Group Ltd., is selling out of a Botswana joint venture as the first step in its aim to raise $1.1 billion to shore up the balance sheet.
The Johannesburg-based company in a statement on Thursday said the company agreed to sell its 53 percent stake in Botswana's Mascom to Econet Wireless Zimbabwe Ltd. for $300 million.
This sale follows a disposal of its Cyprus unit for $294 million.

The mobile phone company is facing challenges across its territories, in Nigeria the company has a court hearing of an alleged unpaid tax bill of about $2 billion due later this month.

MTN still plans to list its Nigeria unit in Lagos over the first half of the year.

https://www.bloomberg.com/news/articles/2019-03-07/mtn-sells-botswana-unit-as-part-of-1-billion-fund-raising-drive[b][/b][b][/b]