MTN Profits Down In South Africa, Rises In Nigeria «

MTN, the JSE-listed mobile phone operator,
posted results it described as “solid” operational
performance in the six months to June this year
with growth realised in data and mobile money.
The firm, which connects more than 215 million
people in 22 countries in Africa and the Middles
East, said during the period under review
subscriber numbers increased 3.5 percent to
215 million with revenues surging 11 percent to
R72.7 billion ($6.7 billion).
MTN Nigeria revenue soared 21.5 percent to R27
billion ($2.5 billion) while MTN South Africa
revenue were 7 percent lower at R19.1 billion
($1.7 billion).
Data revenue surged 38.9 percent to R12.7
billion ($1.1 billion) while data users were 7.3
percent higher at 88.5 million.
However, voice revenue continued to be
negatively impacted by forceful competition,
regulatory pressures and a weakening economic
environment in key markets.
MTN Nigeria posted a healthy performance in
keeping with market prospects but the South
African operation remained under pressure and
steps were taken to improve its performance,
MTN said.
“We continue to explore opportunities to expand
our product offering outside of traditional voice
and expect to increase our presence in the
digital space by leveraging technology and
maximising the opportunity of low internet
penetration in many of our markets,” MTN said.
http://www.ventures-africa.com/2014/08/mtn-
sees-3-5-rise-in-subscriber-base-revenue-
hits-6-7bn/