Nigeria: MTN Group’s Subscriber Base Grows In Nigeria Despite Sanction
The MTN Group has gained 2.5 million new subscribers in the third quarter of the year, thanks to a strong performance in Nigeria and incredible growth in Ghana. MTN SA, on the other hand, actually lost subscribers during the quarter.
The group now proudly boasts 225.4 million subscribers in 21 countries all across Africa and the Middle East.
The quarterly update for the quarter that ended on 30 September shows that active data subscribers grew by five million quarter-on-quarter to a staggering 74.2 million. Active Mobile Money (MoMo) customers increased by 1.7 million quarter-on-quarter, to a total of 25.8 million across the group.
MTN Group’s CEO, Rob Shuter announced that MTN’s performance in numerous markets improved in the third quarter. The Group’s service revenue grew by 10% year-on-year, and the revenue generated by voice and data continued to show very rapid growth.
In SA, the group saw a 2.3% decrease in subscribers quarter-on-quarter, but regardless of this, service revenue in the South African division grew by 3% year-on-year.
The weak economy’s higher VAT rate put consumers under pressure in a way that made them more aware and wary of the pricing of services.
MTN South Africa closed off the quarter with 23.7 million prepaid users (down 3.4% from the previous quarter), 2.9 million postpaid subscribers (up 2.1% from last quarter) and 2.8 million telemetry subscribers.
The group said that it is in consultation with ICASA discussing on the new data pricing regulations that are coming up. MTN added that it welcomes ICASA’s decision to license high-demand radio frequency by the end of March 2019.
The MTN group benefited immensely from the robust performance of operations in Nigeria and Ghana, even though some services in the West and Central Africa region continued to struggle.
The group also completed its listing of MTN Ghana.
MTN Group’s CEO explained that even with the Central bank of Nigeria challenging its plans to list, the group remains committed to achieving that listing and will continue to work towards securing it.
Amidst all the issues, MTN Nigeria still managed to have an excellent quarter and increased its service revenue by 17.4% year-on-year.
Shuter expressed that the group is thrilled with these results as they prove that even with massive obstacles on its path, MTN still manages to come out victorious.