MTN Group has announced it’s addition of 12 million subscribers across 21 markets in the third quarter. This sums up to a total of 273 million subscribers despite the Covid-19 pandemic.
This was revealed through a “third quarter report” released by the group. The Group in the press release has shown the increase achieved in the third quarter, saying, “In the quarter, MTN added 12 million subscribers to reach a total of 273 million across 21 markets, as well as adding 5.3 million active data users to 107 million. In our work to enable greater financial inclusion, we reached a significant milestone by surpassing the 40 million MTN Mobile Money (MoMo) user mark, an addition of 3.5 million in the quarter to 41.8 million at end-September.”
MTN was established in South Africa at the dawn of democracy as a leader in transformation. The group has grown rapidly by investing in advanced communication infrastructure and harnessing the talents. They offer voice, data and digital services to retail customers in the 21 countries in which their operations have telecoms licenses. They also offer enterprise solutions to corporate and public sector customers in a total of 23 countries. The brand is among the most admired and valuable brands in Africa.
The Third quarter report also revealed that the Group recorded a strong set of financial results which was supported by the performance of its larger operations in South Africa, Nigeria and Ghana.
According to the release, MTN’s Service revenue grew by 11.4% to more than R43 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 13.9% and the group EBITDA margin widened by 1.4 percentage points to 43.3%, in line with medium-term targets.
“As the COVID-19 pandemic has continued to impact lives and livelihoods across our markets, the group has demonstrated strong operational execution and resilience,” said MTN Group president and chief executive officer Ralph Mupita.
Mupita further explained that, “we recorded solid growth in voice revenue of 3.9%, which reflects an encouraging recovery supported by the easing of lockdown restrictions,” said Mupita.
“Data revenue grew by 31.9%, bolstered by increased demand for work-from-home services, digital entertainment as well as online education offerings.” he added.
The Group also reported a growth of 21.0% in fintech revenue and 37.5% in digital revenue, driven by the increased adoption and usage of digital offerings.
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