MTN today said it has lowered its capital expenditure (Capex) guidance to R21-22 billion or $1.18 billion as compared with R28.3 billion announced at the 2019 results.
“Our updated Capex guidance for 2020 is between R21 billion and R22 billion, from R28.3 billion guided at the 2019 results,” MTN said in a statement.
MTN spent R4.529 billion towards Capex during the first quarter of 2020 as compared with R8.311 billion in Q4 2019, R5.597 billion in Q3 2019, R6.706 billion in Q2 2019 and R5.511 billion in Q1 2019.
MTN has 257.3 million customers across 21 operations as it added 6.6 million connections during the first quarter of 2020.
MTN said active data subscribers increased by 2.9 million to 98.3 million.
Active MTN Mobile Money customers increased by 0.4 million to 35.1 million.
MTN said its service revenue increased 11.1 percent. MTN said it has achieved 6.3 percent rise in voice, 26.4 percent growth in data and 26 percent increase in fintech revenue in Q1 2020.