Telecommunications giant MTN Group has confirmed that it is the subject of a grand jury investigation by the US Department of Justice (DOJ) regarding its past operations in Afghanistan and Iran.
In a statement, MTN Group CEO Ralph Mupita said the company was approached through its external US counsel and is voluntarily cooperating with the investigation. The probe will focus on MTN’s business dealings in the two countries, where it previously held stakes.
MTN currently owns a 49% non-controlling interest in Irancell, while its stake in Afghanistan has since been disposed of. Mupita emphasized that the company has not been accused of any wrongdoing.
“Our US counsel was approached by the United States Department of Justice. We said we’re willing to engage,” Mupita stated. “They’ve asked for information related to Afghanistan and Iran, and we’ve started voluntarily responding. We’re not being accused of any wrongdoing, and we will update the market as appropriate on any material developments.”
Financial Performance and Market Challenges
The announcement comes as MTN reported improved profitability in its half-year results. Headline earnings per share rose to R6.45 for the six months ending 30 June, compared to a loss of R2.56 a year earlier. The company attributed the growth to easing macroeconomic conditions, including lower inflation in key markets such as South Africa, Nigeria, and Ghana.
However, MTN acknowledged ongoing competitive pressures in South Africa, particularly in the prepaid segment. Chief Financial Officer Tsholofelo (Tullef) Molefe noted that while the enterprise business is gaining market share, the prepaid sector remains challenging due to high smartphone penetration and continued consumer financial strain.
Leadership Changes
MTN also announced executive changes, effective November 2025. Current Group Chief Risk Officer Ferdi Moolman will replace Charles Molapisi as CEO and Executive Director of MTN South Africa. Yolanda Cuba has been appointed Deputy CEO and Executive Director.
The DOJ investigation adds to geopolitical tensions between South Africa and the United States, which have been strained in recent years. MTN, Africa’s largest mobile operator, maintains that it is fully cooperating with US authorities and remains committed to transparency.
Investors and analysts will be closely monitoring developments as the investigation progresses.