Why Afrihost bought itself back from MTN

No question that we learnt a lot in our time with MTN. I don't regret the decision we made: Based on everything we knew at the time, and the people we were dealing with, I believe it was the right decision. However, there were things that happened that we couldn't foresee and this unfortunately had consequences that hurt our clients. And I do sincerely regret that.

It is now our mission to passionately focus on making sure we provide the best value and best internet experience possible for all of our clients.

I am just very grateful that we have been able to buy ourselves back. Many entrepreneurs don't get this second chance. I am sincerely thankful to the current MTN leadership that they allowed this and made this possible.

MTN get a bad rap in the press and on the forums and I just want to personally say that Mteto is a stand up guy who has a really challenging job. I wish him all of the absolute best in his quest to make MTN great.
 
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MTN bought a controlling stake in Afrihost (50% + 1 share) in 2014 for R408 million.
It sold back the investment for R325 million, which means MTN made a loss on the transaction.
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Netting the Afrihost shareholders R83 million. No wonder they had the money to practically give away 250mb packages.
 
It would have been nice if he had asked the loyal Afrihost community if they wished to be part owners - buy shares in the co....
 
Afrihost-Gian said:
MTN get a bad rap in the press and on the forums and I just want to personally say that Mteto is a stand up guy who has a really challenging job. I wish him all of the absolute best in his quest to make MTN great.
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MTN deserves the negative rap - I am sure that Mteto is a decent oke but unfortunately many of the systems in place at MTN as well as the staff working there all combine to form this image. In the thread about what MTN could do to improve, I raised legitimate things - such as their broken website - that they could access and as a result fix. They didn't.
 
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