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Independent assurance practitioner's limited assurance report

INDEPENDENT ASSURANCE PRACTITIONER’S LIMITED ASSURANCE REPORT ON SELECTED SUSTAINABILITY PERFORMANCE INFORMATION REPORTED IN MTN GROUP LIMITED’S INTEGRATED REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

TO THE DIRECTORS OF MTN GROUP LIMITED

We have undertaken a limited assurance engagement on selected sustainability performance information (the “subject matter”), as described below, and presented in the MTN Group Limited (MTN) Integrated Report for the year ended 31 December 2023 (the Integrated Report). This engagement was conducted by a multidisciplinary team with experience in assurance, sustainability performance and carbon emissions.

Limited assurance conclusion

Based on the procedures we have performed and the evidence we have obtained (and subject to the inherent limitations outlined elsewhere in this report), nothing has come to our attention that causes us to believe that the selected sustainability performance information as set out in the Subject Matter paragraph below, for the year ended 31 December 2023, is not prepared, in all material respects, in accordance with management’s measurement and reporting criteria.

Subject matter

We have been engaged to provide a limited assurance conclusion in our report on the following selected sustainability performance information identified and selected by MTN’s management as requiring independent external assurance:

No Selected sustainability performance information Unit of measurement Reporting Boundary Location disclosed in the Integrated Report Location of description of MTN's Criteria in the Integrated Report
1 Employee sustainable engagement score % MTN Group Limited Creating and preserving value through our business model Definitions for assured non-financial data
2 Calls to whistle-blower hotline Number MTN Group Limited Creating and preserving value through our business model Definitions for assured non-financial data
3 Net Promoter Score (NPS) percentages: South Africa % MTN South Africa Creating and preserving value through our business model Definitions for assured non-financial data
4 Net Promoter Score (NPS) percentages: Nigeria % MTN Nigeria Creating and preserving value through our business model Definitions for assured non-financial data
5 Net Promoter Score (NPS) percentages: Other key markets % MTN Other key markets
  • Cameroon
  • Côte d'Ivoire
  • Iran
  • Uganda
Creating and preserving value through our business model Definitions for assured non-financial data
6 Total tax contribution (Rbn) ZAR MTN Group Limited Creating and preserving value through our business model Definitions for assured non-financial data
7 Carbon emissions – scope 1 (tCO2e) (tCO2e) MTN South Africa Creating and preserving value through our business model Definitions for assured non-financial data
8 Carbon emissions – scope 2 (tCO2e) (tCO2e) MTN South Africa Creating and preserving value through our business model Definitions for assured non-financial data

The selected sustainability performance information prepared and presented in accordance with management’s criteria are marked with the symbol LA (Limited Assurance) to indicate that we have provided limited assurance over the selected sustainability performance information.

Other than as described in the preceding paragraphs, which sets out the scope of our engagement, we did not perform assurance procedures on the remaining information included in the Integrated Report, and accordingly, we do not express a conclusion on this information.

MTN’s responsibilities

The Directors of MTN are responsible for the selection, preparation, and presentation of the selected sustainability performance information in accordance with management’s measurement and reporting criteria as set out on page 05 of the Integrated Report. These responsibilities include the identification of stakeholders and stakeholder requirements, key issues, commitments with respect to sustainability performance and design, implementation and maintenance of internal control and maintaining adequate records and making estimates that are relevant to the preparation of the Integrated Report and any references or statements of compliance with reporting frameworks applied, such that it is free from material misstatement, whether due to fraud or error.

The Directors of MTN are responsible for, in relation to application of the reporting standards used in the preparation of the Integrated Report, those reports being prepared in accordance with the reporting principles as per those standards.

The Directors are also responsible for determining the appropriateness of the measurement and reporting criteria in view of the intended users of the selected sustainability performance information and for ensuring that those criteria are publicly available to the Integrated Report users.

Inherent limitations

Where MTN’s reporting of the selected sustainability performance information relies on factors derived by independent third parties, our assurance work has not included examination of the derivation of those factors and other third-party information.

The scope of work was limited to the selected sustainability performance information disclosed in the Integrated Report and did not include coverage of data sets or information unrelated to the selected information, nor did it include information reported outside of MTN’s Integrated Report, information relating to prior periods or comparisons against historical data.

Our assurance report does not extend to any disclosures or assertions relating to management’s future performance plans, forward-looking statements or strategies disclosed in the Integrated Report.

Our Independence and Quality Management

We have complied with the independence and other ethical requirements of the Code of Professional Conduct for Registered Auditors issued by the Independent Regulatory Board for Auditors (IRBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence, and due care, confidentiality, and professional behaviour. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards).

EY also applies International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services engagements, which requires that we design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Our responsibilities

Our responsibility is to express a limited assurance conclusion on the selected sustainability performance information as set out in the Subject Matter paragraph, based on the procedures we have performed and the evidence we have obtained.

We conducted our assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical Financial Information, and, in respect of the greenhouse gas emissions, in accordance with ISAE 3410, Assurance Engagements on Greenhouse Gas Statements, issued by the International Auditing and Assurance Standards Board. Those Standards require that we plan and perform our engagement to obtain the appropriate level of assurance about whether the selected sustainability performance information is free from material misstatement.

The procedures performed in a limited assurance engagement vary in nature and timing and are less in extent than for a reasonable assurance engagement. As a result, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement.

Summary of work performed

Limited assurance

A limited assurance engagement undertaken in accordance with ISAE 3000 (Revised) and ISAE 3410 involves assessing the suitability in the circumstances of MTN’s use of its measurement and reporting criteria as the basis of preparation for the selected sustainability performance information, assessing the risks of material misstatement of the selected sustainability performance information whether due to fraud or error, responding to the assessed risks as necessary in the circumstances, and evaluating the overall presentation of the selected sustainability performance information. A limited assurance engagement is substantially less in scope than a reasonable assurance engagement in relation to both risk assessment procedures, including an understanding of internal control, and the procedures performed in response to the assessed risks. The procedures we performed were based on our professional judgement. A limited assurance engagement consists of making enquiries, primarily of persons responsible for preparing the sustainability performance information subject matter and related information and applying analytical and other appropriate procedures.

For the selected sustainability performance information, we:

  • Performed analytical procedures to evaluate the reasonability of the reported performance results.
  • Obtained explanations from management in response to our analytical procedures and assessing the reasonability in the context of our understanding of the business.
  • Performed tests of detail on the selected performance information, on a selective basis, as part of assessing whether (i) the data has been appropriately measured, recorded, collated, and reported; and (ii) activities set out by management are appropriately evidenced and reported; and
  • Confirmation with internal or external parties; and
  • Performed procedures to:
    • Evaluate the competence, capabilities, and objectivity of external service providers acting as management's experts.
    • Obtain an understanding of the work of the management expert; and
    • Evaluate the appropriateness of the management expert's work as evidence, including assessing the data provided by MTN as an input to the expert's work.
    • We also performed such other procedures as we considered necessary in the circumstances.

We believe that the evidence obtained is sufficient and appropriate to provide a basis for our limited assurance conclusion.

Other Matters

Apart from what was reported in our assurance report for the prior period (2022), no further assurance procedures were performed on prior periods.

Restriction of Liability

Our report, including our conclusions, has been prepared solely for the Board of Directors of MTN in accordance with the agreement between us and for no other purpose. We permit this report to be published in MTN’s Integrated Report to assist the Directors in responding to their governance responsibilities by obtaining an independent assurance report in connection with the selected sustainability performance information.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Board of Directors of MTN for our work or for our report and the conclusion contained therein. We agree to publication of our assurance report within MTN’s Integrated Report provided it is clearly understood by recipients or readers of the Report and that we accept no duty of care to them whatsoever in respect of our independent assurance report.

Maintenance and integrity of MTN’s website is the responsibility of MTN management. Our procedures did not involve consideration of these matters and, accordingly we accept no responsibility for any changes to either the selected sustainability performance information as reported, or our independent assurance report that may occur subsequent to the initial date of publication of the Report on MTN’s website.

Ernst & Young Inc.

Director: Morkel Hendrik Pienaar

Registered Auditor

Chartered Accountant (SA)

29 April 2024

102 Rivonia Road, Sandton,

Johannesburg

South Africa