MTN Group has reported that it added 4.1 million new subscribers and a 9.1 percent rise in its revenue in the first quarter, ending March with a total of 221.3 million subscribers in 22 countries across Africa and the Middle East.
Active MTN Mobile Money customers increased by 3.9 percent on a quarterly basis to 22.7 million, and mobile money revenues were up 52.4 percent year-on-year.
MTN also reported group voice revenue up by 5.4 percent thanks to strong growth in Nigeria and Ghana and data revenue up 26.9 percent as it expanded coverage across its footprint.
“Group voice revenue growth of 5.4 percent benefited from strong growth in Nigeria and Ghana of 15.2 percent and 20.6 percent respectively. Group data revenue grew by 26.9 percent quarter-on-quarter, as we executed on our dual-data strategy, ensuring appropriate data coverage across our footprint,” Rob Shuter, MTN Group CEO, said.
The revenue growth rates are on a constant currency, annual basis. On 07 May, the company will present full results for MTN Nigeria ahead of its planned IPO, while the IPO of MTN Ghana is expected to launch later this month, the company confirmed.
MTN Uganda reported new subscriber net additions for the first quarter of 149,000 to reach a total of 10.86 million customers at 31 March, an increase of 1.4 percent from the end of 2017.
Mobile money revenue increased by 21.8 percent to contribute 25 percent of total revenue.
Via MTN Group, TelecomPaper