Summary: MTN has rejected claims it has had financial or operational ties with Iran, saying it has not extracted any capital or dividends from its 49% stake in Iranian affiliate Irancell since 2018 due to US sanctions. The telecoms company said the stake was a passive investment and it had fully complied with international sanctions.
MTN Group has strongly rejected recent media claims suggesting it maintains active financial or operational involvement in Iran per communique seen by Accra Street Journal. The South African telecoms giant clarified that it has not extracted dividends nor injected any capital into Irancell, its Iranian affiliate, since 2018.
In a statement, MTN described its 49% stake in Irancell—held since 2006—as a passive investment. The company emphasized that no capital has been deployed into the Iranian operation since May 2018, following the re-imposition of U.S. sanctions after the Trump administration pulled out of the Joint Comprehensive Plan of Action (JCPOA).
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“MTN does not benefit from this interest,” the Group said. “The Group has not extracted any capital or dividends, nor deployed any capital into the Iran business since May 2018.”
The clarification comes in the wake of renewed scrutiny by some media outlets, including South Africa’s Polity, amid rising geopolitical tensions. MTN reaffirmed its full compliance with international sanctions and said it adheres to global legal and ethical standards.
The company further noted its strategic shift in 2020 to exit the Middle East and consolidate operations in Africa, aligning with its vision to become a digital leader on the continent. That process, MTN said, is ongoing and being executed in a structured and responsible manner.
As of March 2025, MTN reported 297 million customers across 16 African markets and reiterated its commitment to human rights, adding that its services are developed to enhance, not restrict, individual freedoms.
MTN is currently facing litigation under the U.S. Anti-Terrorism Act, related to conflicts in Iraq and Afghanistan. The company denies any wrongdoing and stated it continues to “respectfully defend” itself in court.
“MTN has deep sympathy for those who have suffered due to the conflicts,” the Group said, “but no court has found us guilty of any wrongdoing.”
Responding to speculation about its influence on foreign policy, MTN stressed that its business decisions are made independently of the South African government. The company was once chaired by former President Cyril Ramaphosa until 2013 and is now led by Mcebisi Jonas.
“Any suggestion that MTN has input into the foreign policy of South Africa is false and misleading,” the company concluded.
By Samuel Kwame Boadu | Accra Street Journal | This story may be republished with credit and backlink to Accra Street Journal.
Last Updated on March 9, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
