MTN Group Ltd., Africa’s largest mobile-phone operator, and Dubai-based tycoon Tarek Al Ashram will develop data centers to power artificial intelligence on the continent.

MTN Group Ltd. said it will buy back 6 billion rand ($375 million) of shares and reaffirmed its guidance on revenue growth and capital metrics for the next three to five years. This announcement comes despite a decline in earnings primarily due to writedowns at its Iranian joint venture.

MTN Group Ltd. surged the most since March after Africa’s biggest mobile-network operator said it will buy back 6 billion rand ($375 million) of shares and reaffirmed its three- to five-year revenue and capital guidance, even as writedowns at its Iranian joint venture weighed on earnings.

MTN Group Ltd. said adjusted first-half earnings climbed as much as 23% after improved results from the Nigerian, Ghanaian and Ugandan operations of Africa’s biggest mobile-network operator.

MTN Group Ltd. fell to a four-month low after Africa’s biggest mobile-network operator said an impairment of its investment in Iran curbed first-half profit.