Strong MTN looks to more growth
BUSINESSBy BiztechAfrica - Aug. 17, 2011, 2:18 p.m.
With a strong six months under its belt, MTN says it is looking to grow shareholder value, with North African expansion a possibility.
MTN Group said in delivering its financial results for the six months ending June 2011 that it had seen a satisfactory operational performance, with subscriber growth of 7.5% to 152.3 million and revenue 1.3% higher to R56,542 million.
There was strong subscriber growth in most of the group’s operations, including an encouraging performance in Sudan. MTN said the period had been characterised by growing competition and decline in voice and data tariffs.
Delivering, the results, Group President and CEO Sifiso Dabengwa said highlights included the implementation of Mobile Money in 12 countries and the conclusion of the first tower deal.
At 30 June 2011, there were 5.1 million registered mobile money subscribers, with Uganda and Ghana each accounting for 37% of the total.
MTN said the conclusion of the tower deal by MTN Ghana marked the start of true infrastructure sharing and opportunities to unlock value. The company said other projects of this nature are under consideration.
Adding to MTN’s revenue streams during the period under review were continued investment in transmission (undersea cables and fibre) and radio technologies (2G, WIMAX and 3G) as well as mobile data solutions and sourcing of appropriate handsets.
Data revenue (excluding SMS) overtook SMS revenue for the first time and now contributes 6.3% and 6.0% respectively of total revenue.
On the question of mandatory SIM registration, MTN said with the South African registration deadline having passed, it had suspended 380 842 SIMs. With the Nigerian deadline 28 September, it had 50% of the base registered and with the Ghanaian deadline now 30 September, it had 90% of its base registered.
MORE BUSINESS NEWS
Econet rejects base station reportEconet Wireless has released a statement refuting recent media reports around its importation of base stations. Read More
Nigeria: potential to become major economic forceA new McKinsey report finds that Nigeria has the potential to expand its economy by roughly 7.1 percent per year through 2030. Read More
Call for pan-African contact centre associationInteractive Intelligence has called for the creation of a call centre association for Nigeria and other African countries as a way of promoting a standard for call centres. Read More
AMI, Strathmore launch free online courses for managers and entrepreneurs in AfricaManagers and entrepreneurs in Africa can now gain advanced skills for free, with the launch of free online courses courtesy of the African Management Initiative (AMI). Read More
Bytes, NCR and Barclays in ATM dealBytes Managed Solutions, the exclusive distributor of NCR technology solutions in Southern Africa had signed a deal with Barclays Bank of Botswana (BBB) for the installation of intelligent cash deposit ATMs. Read More
Orange reports 8% revenue growthIntegrated telecommunications service provider Orange has announced an 8% revenue growth for the overall business for the first half of this year, compared to the same period last year. Read More
Business Connexion appoints CEOBusiness Connexion Group Limited has announced that Mr. Isaac Mophatlane has been appointed Chief Executive Officer of the company. Read More
Managed service support key to growth for iWayAfricaPan African telecoms operator, Gondwana International Networks (GIN) has announced that its iWayAfrica business will be partnering with managed services company, SevenC Computing to grow its foothold in key Africa territories. Read More
Dire need for top IT leadershipThere is a huge demand for top leaders with high-level information technology skills, but there are very few candidates who can fill these positions, one of SA’s leading executive search experts says. Read More
FEATURED STORYWidening ICT skills gap: Cause for concern
Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.
BEST READ NEWS
IN DEPTHKenya rolls out e-extension to improve agriculture
In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.