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
Safaricom CEO to attend CEO ForumSafaricom’s CEO, Bob Collymore, will be among the leading African CEOs to grace the second Africa CEO Forum in Geneva. Read More
Yu, Orange exit to shake Kenya’s telecoms sectorA wind of change is sweeping across Kenya’s telecom sector following reports that Orange Group, just like Essar Telecom, could wind up its Kenya operations. Read More
Voice under pressure, data growing in latest MTN resultsAggressive price competition and lower mobile termination rates caused a decrease in voice revenue's contribution to overall revenue, while data services were a key driver of revenue growth, says MTN. Read More
Mustek, Huawei International Pte. Ltd. in $51 million project for Zambia Railway LimitedMustek Limited has announced its contract to supply and deliver over $12 million worth of Huawei’s ‘Signalling and Telecommunications’ equipment to a consortium upgrading Zambia Railway Limited. Read More
Senanu named AccessKenya deputy CEOAccessKenya Group has appointed Kris Senanu as its new Deputy Chief Executive Officer. Read More
Twinpine showcased at MWC14Nigeria’s Twinpine Mobile Advertising Network showcased its technological capacity at the MWC14. Read More
Strong growth for mobile printer marketThe global mobile/portable printer market will reach USD11.87 billion by 2018, says TechSci Research. Read More
Worldwide tablet sales up 68%Worldwide sales of tablets to end users reached 195.4 million units in 2013, a 68 per cent increase on 2012, according to Gartner. Read More
IHS secures US$490m to fund African expansionIHS Holding Ltd. has secured US$490 million of equity and debt in its latest financing round. Read More
PIVOT East partners with Tech Hubs for 2014 startup competitionThe organisers of PIVOT East, one of the most prestigious mobile startup competitions and conferences in East Africa, have announced a partnership with Tech Hubs across the region for 2014. Read More
FEATURED STORYMACRA demystifies spectrum management
Malawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports.
BEST READ NEWS
IN DEPTHYouthConnekt launches Mobile Apps for Human Development Challenge in Rwanda
Rwanda’s Ministry of Youth and ICT and the UNDP, in close collaboration with Motorola Solutions, will power a Mobile App Challenge that will be implemented by YouthConnekt.