Insecurity, regulations weigh down MTN

MTN Nigeria

MTN Nigeria

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – MTN Nigeria, the mobile network operator, has reported a marginal decline in its subscriber base in the last quarter.

According to the MTN Group, subscribers fell to 58,4 million, largely impacted by regulatory restrictions relating to the “dominant operator” ruling and continued unrest in the northern region during the quarter.

While this muted subscriber performance is expected to impact revenue growth for the second half of the year, by mid-September the operation had resolved a number of issues with the regulator resulting in an improvement in subscriber growth, MTN Group said.

Local currency data revenue continued to grow strongly, increasing by 26,4 percent.

It now contributes 17,8 percent to total revenue. This was mainly attributable to the growth in data users, which increased by 31,7 percent and the introduction of a low-cost MTN smartphone
during the quarter.

The operation successfully sold 58 300 of such devices in the third quarter.

The Mobile Money offering, Diamond Yellow, gained encouraging momentum while the launch of other innovative data products including MTN Yello Health, MTN Music plus MTN Yello, Cover, MTN Biz Plus and MTN SME plus will further assist MTN Nigeria’s growth in the digital space.

Meanwhile, the MTN Group recorded satisfactory subscriber growth of 2 percent to 219 million subscribers quarter-on-quarter (QoQ).

– CAJ News






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Posted by on Oct 23 2014. Filed under Featured, Finance, Finance & Banking, Mobile & Telecoms, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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