MTN Profit Hit by Inflation, Naira Devaluation, CEO Says

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Inflation and the devaluation of the naira in one of MTN's largest markets, Nigeria, resulted in much of the company's profit for the year being wiped out. The South Africa-based company said net income plunged 79% in 2023 from a year earlier. Chief Executive Officer Ralph Mupita spoke to Bloomberg's Jennifer Zabasajja from Johannesburg.

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