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KABUL – South Africa’s MTN Group is under investigation by a U.S. Department of Justice grand jury concerning its operations in Afghanistan and its 49% stake in Iranian mobile operator Irancell. The probe follows allegations that MTN’s activities may have violated the U.S. Anti-Terrorism Act by providing material support to militant groups in both countries.
The investigation centers on MTN’s former subsidiary in Afghanistan and its involvement with Irancell. Plaintiffs in the United States have accused MTN of aiding anti-American militias through its participation in Irancell, alleging that the company facilitated the operations of Iran’s Islamic Revolutionary Guard Corps (IRGC) and supported the Taliban’s campaign against U.S. citizens in Afghanistan.
MTN has stated that it is cooperating with the Department of Justice and responding to requests for information. The company has also filed a motion to dismiss the amended complaint tied to similar Anti-Terrorism Act cases.
This development has led to a significant drop in MTN’s share price, reflecting investor concerns over the potential legal and financial implications of the investigation.
