Telecom

MTN Reinforces Its Dominance In The Cameroon Market

The MTN Group, Africa's front-running telecommunications company with operations in more than 21 countries around the world, including Cameroon, released its financial results for 2018 last week.

The results showed strong growth in the subscriber numbers, which were at 233 million in December 2018 in the 21 countries, an improvement from 2017’s 217 million.

After a notably difficult 2017 in Cameroon, MTN started to improve its performance in 2018.
The company shared that it had recorded a growth of 11.7% in its subscriber base, which was at approximately 8 million subscribers in December 2018.

MTN Cameroon also achieved a great performance on new revenue streams, including an impressive increase in Data revenue and an outstanding 170.2% growth in Mobile Money revenue, with the number of subscribers recorded at almost 5 million in December 2018.

With close to 8 million subscribers, accounting for 47.20% market share and a turnover of over $362 million, MTN is strengthening its dominance in Cameroon’s telecommunications market.

The company is now reported to be looking to the future with optimism, driven by the excellent performance recorded at the end of the year.

Hendrik Kasteel, the CEO said that MTN Cameroon is back. He said that bold steps were taken in 2018 to bring the company back to its growth path: and he was happy to report that those measures were beginning to present positive results.


Credit: This article originated from www.biztechafrica.com

 





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