Swaziland`s King Mswati III has acquired a 6% shareholding in MTN Swaziland.
The post was made available by Swaziland Post & Telecommunications Corporation (SPTC), Swaziland`s fixed-line network operator and postal service.
In terms of a joint venture agreement with MTN International, Swazi Empowerment and MTN Swaziland, SPTC is entitled to dispose of up to 21% of its shares free of any pre-emptive rights.
At the end of March, MTN Swaziland had a 71% share of the total telecommunications market and a mobile penetration of 7.7%, which was higher than the penetration of the fixed-line network.
In September, MTN Swaziland had 116 000 subscribers. Average revenue per user for the six months to September was R212.
Born Prince Makhosetive Dlamini in 1968, the king was crowned Mswati III in 1986, following the death of his father, Sobhuza II.
He is Africa`s last absolute monarch.
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