Zimbabwe Stock Exchange-listed Econet Wireless Zimbabwe has acquired Mascom Botswana from MTN for US$300 million.

Econet Wireless Zimbabwe is Zimbabwe’s largest provider of telecommunications services, providing solutions in mobile and fixed wireless telephony, public payphones, internet access and payment solutions.

Mascom was Econet founder and billionaire Strive Masiyiwa’s first mobile company prior to obtaining a licence to launch Econet Wireless after a protracted court battle with Zimbabwe government authorities.

MTN Group Ltd announced today the disposal of its share in Mascom.

MTN is looking to raise at least 15 billion rand ($1.1 billion) from asset sales and strengthen the balance sheet.

And in terms of the disposal MTN has agreed to sell its entire 53 percent stake in the Botswana-based mobile telecommunications company to Econet Wireless Zimbabwe Ltd for $300 million.

In respect of MTN’s broader plans, it’s other businesses that have been put up for sale include e-commerce services, which includes Nigerian online retailer Jumia Technologies AG and Travelstart.co.za.

MTN is also indicated plans to sell its interest in IHS Towers Ltd.

The latest development comes a year after CEO Rob Shuter announced a review of MTN’s then-22 markets across the Middle East and Africa to evaluate ways of simplifying the business.

The sale of MTN’s Botswana interest follows a disposal of its Cyprus unit for 260 million euros ($294 million).