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Annual Report : Annexure 1   Next : Interest in associated companies
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Annual finanacial statements - Contents

 

Annexure 1

Interests in major subsidiary companies and joint ventures

       
Effective
interest
in issued
ordinary share
capital
Book value of holding
company interest
       
Shares
Indebtedness
Subsidiaries and joint
ventures in which MTN Group Limited has a direct and indirect interest
Principal
activity
Country of
incorporation
Issued
ordinary
share
capital
Dec
2005%
Mar
2005
%
Dec
2005
Rm
Mar
2005
Rm
Dec
2005
Rm
Mar
2005
Rm

Mobile Telephone Networks Holdings

Investment holding

   
 
 
 
 
 
 

(Proprietary) Limited

company

South Africa

5
100
100
12 634
12 617
1 520
1 520

Mobile Telephone Networks (Proprietary)

 

 

 
 
 
 
 
 
 

Limited

Network operator

South Africa

*
100
100

Guardrisk International Limited PCC

Insurance company

Mauritius

*
100
100

MTN Service Provider (Proprietary) Limited

Service provider

South Africa

*
100
100

MTN International

Investment holding

   

 
 
 
 
 
 
 

(Proprietary) Limited

company

South Africa

*
100
100

 

Investment holding

 

 
 
 
 
 
 
 

MTN International ( Mauritius) Limited

company

Mauritius

*
100
100

Cameroon Mobile Telephone Networks

 

   

 
 
 
 
 
 
 

Limited

Network operator

Cameroon

2
70
70

MTN Nigeria Communications Limited***

Network operator

Nigeria

*
77,3
75

Mobile Telephone Networks Insurance

Insurance company

South Africa

 
 
 
 
 
 
 

(Proprietary) Limited

 

 

*
100
100

M-Tel Insurance (Proprietary) Limited

Insurance company

South Africa

*
100
100

MTN Network Solutions (Proprietary)

Internet service

   

 
 
 
 
 
 
 

Limited

provider

South Africa

*
100
60

MTN Management Services (Proprietary)

 

   

 
 
 
 
 
 
 

Limited

Management services

South Africa

*
100
100

MTN Rwandacell S.A.R.L **

Network operator

Rwanda

*
40
40

MTN Uganda Limited **

Network operator

Uganda

*
52
52

Cell Place (Proprietary) Limited

Cellular dealership

South Africa

*
51
35

Swazi MTN Limited **

Network operator

Swaziland

*
30
30
     

Nigerian Electronic Funds Transfer Operation

Virtual Airtime

Nigeria

*

88,65

87,5

MTN Cote d’Ivoire Societé Anonyme

Network operator

Ivory Coast

*

51

 

 

 

Republic of

 

 

 

 

 

 

 

MTN Congo Societé Anonyme

Network operator

the Congo

*

100

 

MTN Zambia

Network operator

Zambia

*

100

Irancell**

Network operator

Iran

*

49

 

Mascom Wireless Botswana Limited**

Network operator

Botswana

*

44

 

Investment holding

 

 

 

 

 

 

 

 

Mobile Botswana Limited

company

Mauritius

*

100

 

Investment holding

 

 

 

 

 

 

 

 

Econet Wireless Citizens Limited

company

Botswana

*

60

 

Investment holding

 

 

 

 

 

 

 

 

DECI (Proprietary) Limited**

company

Botswana

*

33

MTN Mobile

 

 

 

 

 

 

 

 

 

Money Holdings

Wireless banking

 

 

 

 

 

 

 

 

(Proprietary) Limited**

services

South Africa

*

50











* Amounts less than R1 million
** Joint ventures
*** Although MTN International (Mauritius) holds 75% of MTN Nigeria, consolidation of the results of MTN Nigeria is based on 77,3% due to the accounting
treatment required under IFRS for the outstanding put options as described in note 7.1.