MTN Group Ltd., Africa’s biggest wireless carrier by revenue, posted its first loss since 2016 after the devaluation of the Nigerian naira crimped income from one of its key markets.
The group reported a loss of 7.39 billion rand ($414.7 million) in the six months through June, compared with 4.14 billion rand profit a year earlier. The loss is MTN’s first since it had to pay a more than $1 billion fine imposed on the company by the Nigerian government.
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