MTN Group, a leading telecom operator in Africa, has revealed its investment plan for 2021 focusing on improvement in network and digital business.
MTN has made investment of R28.6 billion towards network Capex in 2020. MTN plans to invest R29.1 billion in network, fintech and digital services platforms in 2021.
MTN added 29 million subscribers in the year to reach 280 million across 21 markets.
MTN service revenue grew 11.9 percent to R170 billion and EBITDA increased 13.4 percent. EBITDA margin improved by 0.9pp to 42.7 percent, benefiting from the execution of our expense efficiency program, MTN CEO Ralph Mupita said.
In 2020, MTN added 19 million data users and almost 12 million MoMo users, to reach totals of over 114 million and 46 million respectively. MTN achieved more than 110 percent in data traffic.
MTN also announced a revised strategy called Ambition 2025.
MTN aims to separate infrastructure assets and platforms, such as fintech, in order to attract third-party capital and partnerships.
MTN earlier announced its intention to focus on pan-Africa strategy. MTN recently completed a strategy review in Q4 2020.
“Ambition 2025 will position the business to capture the exciting opportunities across our markets and our medium-term guidance has been enhanced to reflect this accelerating growth outlook.”