mtn group
MTN Group Reports Service Revenue Growth in 2021
Sourced from TheTechieGuy (https://thetechieguy.com/) MTN Group has reported strong operational and financial performance for the first quarter of 2021. “The MTN Group has delivered a solid Q1 2021 trading performance, with service revenue and EBITDA margins expanding on the back of continued commercial momentum and resilient networks,” says MTN Group President and CEO, Ralph Mupita. He adds that the Group’s Ambition 2025 strategy had gained execution traction during challenging COVID-19 macroeconomic conditions in the quarter. In constant currency terms, service revenue grew by 17.8% to R42.3 billion at end-March 2021, earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 21.3% and the EBITDA margin widened to 44.2% from 42.7%. “The overall Group results were suppo...
MTN Ghana Promises $149 Million in Infrastructure Expansion
MTN Ghana has revealed its results for the quarter ended 31 March. The telco’s subscriberbase grew by 0.6 million to 25.0 million, as it improved its network and customerexperience. Continued demand for data and increased adoption of more digital payment services supported the active data subscribers’ growth of 0.4 million to reach 11.2 million and MoMo users growth of 0.1 million to reach 10.7 million. Most notably, MTN Ghana revealed that it would spend around $149 million in total CAPEX in the year to meet the heightened need for reliable and resilient voice, data and digital services. “We remain in line with our medium-term target to improve our margins and prudently manage our costs. EBITDA grew by 24.6%, with a corresponding margin expansion of 1.2 percentage points to 54.6%. Th...
MTN Bids for Ethiopian Telco Licence Alongside Vodacom and Safaricom
MTN Group has reportedly made a bid for an Ethiopian telecommunications licence alongside Vodacom Group and Safaricom. Finance ministry adviser, Brook Taye says that the consortium of bids is led by Safaricom. “We always wanted quality providers and this is what we have received,” adds Taye. “These are two African giants — the Safaricom-led consortium and MTN — either one or two of the operators will get a licence in Ethiopia.” Kenya’s geographical proximity to Ethiopia is expected to be one reason why Safaricom leads the consortium. “I think it will be a very good exposure to Safaricom from the perspective of geographical closeness on the one perspective, but also giving Safaricom additional exposure to more growth areas,” says Vodacom’s chief executive, Shameel Joosub. In an interview wi...
MTN Nigeria Launches Unlimited Music Streaming Data Bundles
Sourced from TheTechieGuy (https://thetechieguy.com/) MTN Nigeria has partnered with Audiomack to offer subscribers tailored data bundles for streaming unlimited music and accessing content on Audiomack free of data charges. The partnership is expected to see MTN subscribers gain free access to Audiomack’s streaming service via their mobile devices on weekly and monthly subscriptions. The weekly plan offers 1.2GB + Free Audiomack while the monthly plan offers 2.5GB + Free Audiomack. “At Audiomack, we recognise the importance of access to quality music, and this coupled with Nigeria’s vibrant music industry has influenced this partnership,” says Dave Macli, CEO and Co-Founder of Audiomack Africa. “This relationship not only allows us to create shared value for MTN subscribers by delivering ...
MTN South Africa Appointed as Mobile Provider to Government
MTN South Africa has been appointed by the National Treasury as the new mobile provider to the Government. The contract allows for all entities of state to “utilise the contract for mobile communication services, which will further assist with cost containment”. The scale of the government’s requirements is expected to allow MTN to develop systems, innovative pricing and products that will not add value to South Africa and also significantly improve on existing mobile telecommunications service delivery. “We are both humbled and honoured by the faith National Treasury has shown in MTN with this critical partnership over a five-year term. A huge team at MTN spent months analysing the state’s requirements and then developing the very best solutions to not only meet those expectations, but to...
MTN Nigeria Acquires Additional 800MHz Spectrum
Nigeria has acquired additional 10MHz spectrum in the 800MHz band from Intercellular Nigeria Limited. The Nigerian Communications Commission (NCC) has already approved the transaction and assigned the frequency. According to the telco, this acquisition will significantly improve its customer experience. “Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country,” says Karl Toriola, CEO of MTN Nigeria. “The added resources will also greatly impact our customers’ experience providing even better internet connectivity. It is our goal to keep finding ways to grant everyone access to modern connected life.” MTN Group Adds 29 Million Subscribers Despite a Challenging 2020 MTN added 29 million new subscribers in 2020, to reach a total ...
Huawei and MTN South Africa Launch a New and Secure Payment Solution
Huawei has joined forces with MTN South Africa to launch Direct Carrier Billing (DCB) – a ‘seamless and secure’ payment method that allows users to make purchases using their airtime. For contract customers, the amount will be added to their monthly mobile phone bill, while prepaid customers will have the amount deducted directly from their available airtime. This means you can still pay for all your favourite offerings from Huawei Mobile Services without having to share your credit card details. “MTN recently reached 100 million active data customers across 21 countries in Africa and the Middle East. This shows that our customers are increasingly adopting digital offerings and we are continuously looking to meet this demand with fresh offerings that will add value to our customers,” says ...
MTN Group Adds 29 Million Subscribers Despite a Challenging 2020
MTN added 29 million new subscribers in 2020, to reach a total of 280 million across 21 markets. The group also reported a 52% increase in adjusted headline earnings per share, a four percentage point increase in return on equity to 17% and a more than doubling in operating cashflow to R28,3 billion. “We continued to perform favourably against our medium-term targets,” says MTN President and CEO, Ralph Mupita. “In constant currency terms, service revenue grew 11,9% to R170 billion and EBITDA increased by 13,4%, maintaining our strong operating leverage. The Group’s EBITDA margin improved by 0,9pp to 42,7%, benefiting from the execution of our expense efficiency programme.” The solid results were supported by growth in MTN’s larger operations as well as a broad-based improvement across...
MTN Group Appoints New Strategy and Transformation Executive
Image sourced from TechFinancials MTN Group has appointed Chika Ekeji as its new Strategy and Transformation Executive – effective from 15 March. The telco says this appointment is part of its plans to further bolster management capacity to accelerate the Group’s strategic ambitions. “In December 2020, MTN Group announced the completion of a comprehensive strategy review with a focus on accelerating growth, deleveraging the holding company debt and unlocking value,” says MTN. “To support the execution of the repositioned strategy, we announced the appointment of a new Group Chief Financial Officer as well as changes to the Group’s regional structure and the Group Executive Committee.” According to MyBroadband, Ekeji has a Masters of Engineering in Computer Science from Cornell University a...
MTN Nigeria Subscribers Grow to 76.5 Million
Sourced from TheTechieGuy (https://thetechieguy.com/) MTN Nigeria has published its financial year results – ending December 2020 – which reveal an increase of 12.2 million mobile subscribers to total 76.5 million. The telco also recorded: Active data users increased by 7.4 million to 32.6 million Service revenue increased by 14.7% to NGN1.3 trillion Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 9.7% to N685.7 billion EBITDA margin declined by 2.5 percentage point (pp) to 50.9% Profit before tax (PBT) grew by 2.6% to N298.9 billion Earnings per share (EPS) rose by 0.9% to N10.1 MTN Launches Supersonic AirFibre in South Africa MTN has launched its Supersonic AirFibre offering in South Africa. The product is said to overcome distance and a lack of infrastruct...
Mastercard Partners with MTN to Enable MoMo Customers to Transact Globally
Mastercard has joined forces with MTN to enable millions of MTN MoMo customers in 16 African countries to shop and pay online with global merchants. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers can now unlock a host of opportunities and shop from their favourite international brands online while in their home countries or travelling abroad. The announcement comes at a time when eCommerce and online shopping are reaching record levels across Africa. According to the Economy 2021 outlook conducted by the Mastercard Economics Institute, 20-30% of the COVID-19-related surge in eCommerce will remain a permanent feature of overall retail spending. And shopping through mobile is largely how consumers access these opportunities. Across Sub-Saha...
