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MTN eyes 200m subscribers

Mobile operator MTN is targeting 200 million subscribers across its operations in 22 countries in Africa and the Middle East by mid-year 2013.

On Wednesday (6 March), MTN reported a 10.9% rise in revenue to R135.11 billion, while earnings before interest, taxes, depreciation, and amortisation increased 7.0% to R58.564 billion. Operating profit improved to R41.3 billion, from R39 billion in 2011.

MTN said that subscribers increased 15.1% to 189.3 million, in the financial year ended December 2012.

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MTN said that the low levels of mobile penetration across its markets should support continued strong subscriber growth.

“We expect to deliver continued organic growth in both revenue and EBITDA and anticipate reaching the milestone of 200 million subscribers by mid-year,” the group said.

MTN South Africa’s total subscriber base during the reported financial period grew by 15.4% to 25.4 million, driven primarily by 15% growth in the pre-paid segment to 20.9 million.

MTN notes in its subscriber net additional guidance for 2013, that it hopes to attract an additional 21 million new subscribers, including 2.9 million in South Africa.

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Credit: BusinessTech