Africa's biggest mobile phone operator MTN Group has promised to pay a dividend in 2017 despite reporting a 108 million dollar loss. The announcement send its shares up more than 10 percent with the chairman saying that the losses would not be repeated and promised to keep dividends flowing. MTN was hit by a regulatory fine in Nigeria that wiped 770 million dollars from 2016 earnings as well as unfavourable currency moves. MTN is held by many investors for its dividends and will be paying 700 rand cents per share this year after declaring a similar amount for 2016. Without one-off and non-operating items, which include about 6 billion rand in forex losses, MTN would have managed a profit, albeit 14 percent lower than 2016's earnings.