Strong MTN looks to more growth

BUSINESS

|
Image: MTN Group President and CEO Sifiso Dabengwa . By MTN Group
MTN Group President and CEO Sifiso Dabengwa

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.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

The nine top trends in CEM today

Customer experience management that genuinely enhances customer ‘stickiness’ depends on new strategies and now mindsets, says Frost & Sullivan. Read More

MTN, former ATCON chief disagree over naira devaluation

MTN Nigeria and a former president, Association of Telecoms Companies of Nigeria (ATCON) have disagreed over further devaluation of the naira. Read More

MTN Business launches Supplier Development Programme in Mpumalanga

MTN Business has reaffirmed its commitment to develop small and medium-sized enterprises (SMEs) within Nelspruit by extending its Supplier Development Programme (SDP) and Accelerator Programme (AP), the company’s enterprise development initiatives, to the Mpumalanga Province of South Africa.  Read More

VMware appoints Senior Vice President and GM of EMEA

VMware, a global leader in cloud infrastructure and business mobility, today announced the appointment of Jean-Pierre Brulard as Senior Vice President and General Manager of EMEA.  Read More

InfoGraphics chief urges investment in tech start-ups

The Managing Director of InfoGraphics Nigeria, Chinenye Mba-Uzoukwu, has urged wealthy Nigerians to invest in tech start-ups. Read More

Convergence Partners acquires stake in Nigerian Fintech firm

Convergence Partners has announced an investment of $20m for a strategic, minority stake in Venture Garden Nigeria. Read More

MTN Business augments its management team further with key strategic appointment

MTN Business SA has appointed an industry veteran, Mariana Kruger, as General Manager of Private Sector.  Read More

SA Competition Tribunal approves Telkom-BCX merger

Business Connexion Group Limited has announced that the Competition Tribunal of South Africa has approved the proposed merger between Business Connexion Group Limited ("BCX") and Telkom SA SOC Limited ("Telkom") with the imposition of conditions. Read More

Kenyan SACCOS riding on innovation to attract customers

As confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative. Read More

BITC invites ICT investors

The Botswana Investment and Trade Centre (BITC) is casting its net wide to appeal to players in the Information Technology sector to invest in the country. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Young innovators shine during pitch sessionsYoung innovators shine during pitch sessions

Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.

IN DEPTH

High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.