MTN achieves 9.6% growth in service revenue in 9 months

MTN announced 9.6 percent growth in service revenue and 0.6 percent rise in EBITDA margin to 35.1 percent in the first 9 months of 2019.
MTN IT team
MTN added 3.5 million subscribers during the third quarter and now serves 244 million customers across its 21 markets.

MTN added 4.7 million active data users and 2.2 million Mobile Money subscribers across the portfolio.

Ayoba messaging platform is available across five markets and is recording 515,000 active users per month.

MTN Group CEO Rob Shuter said: “Solid performance in Nigeria and Ghana offset the headwinds in South Africa, which was impacted by the weaker consumer demand and changes in ICASA’s End User Subscriber Service Charter Regulations which have impacted out-of-bundle (OOB) usage.”

MTN South Africa achieved growth in prepaid and enterprise service revenues in the third quarter. Consumer post-paid in South Africa remained strong in a competitive market with service revenue growing at 5.8 percent.

MTN is in discussions to sell 49 percent stake in ATC Ghana and ATC Uganda in a deal valued at between R7 billion and R8 billion. American Towers Corporation earlier said it would buy Eaton Towers.

MTN Group expects an improved performance in South Africa in 2020 as the effects of the End User regulation on OOB usage moderate, the enterprise division returns to growth and the Cell C situation stabilises.

MTN Nigeria will maintain service revenue and EBITDA growth in line with the medium-term guidance. MTN Nigeria aims to improve its data revenue performance with increased 4G coverage as it utilises 800 MHz spectrum.