MTN says Subscribers up 1.9 percent in Quarter to March

Posted on May 3rd, 2018

Mobile phone company MTN said on Thursday its subscribers increased by 1.9 percent in the three months to March compared with the previous quarter, with net additions of 4.1 million.

The company, which serves 221.3 million people in 22 countries across Africa and the Middle East, said group service revenue increased by 9.1 percent while group data revenue increased by 26.9 percent.

“During the quarter, the group continued to focus on operational execution across our markets, leveraging off the strong network investment of the past few years,” MTN Group president and CEO Rob Shuter said.

“This allowed us to deliver an acceleration in service revenue growth to 9.1 percent, led by MTN Nigeria and MTN Ghana.”

He said group voice revenue growth of 5.4 percent benefited from strong growth in Nigeria and Ghana of 15.2 percent and 20.6 percent respectively while group data revenue grew by 26.9 percent.

Shuter said the company had made good progress on the IPO processes in Nigeria and Ghana, which it aimed to conclude during 2018. (via African News Agency)