MTN Nigeria reports 11.2% rise in revenue as subscriber drops

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Nigeria’s largest mobile carrier, MTN with over 50 million subscribers said it is total revenue for Nigeria in Q3 rose by 11.2% supported by data revenue growth of 72.1%. MTN Group president and chief executive officer Rob Shuter said the key growth drivers of data and digital services performed well.

The South Africa-based MTN Group also noted that the Q3 revenue was  “largely driven by lower reported subscribers in Nigeria as we continue to refine our active subscriber definitions as well as the disconnection of approximately 750 000 subscribers in Uganda as a result of regulatory SIM registration requirements”. However, the group’s total subscribers fell to 230.2 million with Nigeria’s company’s subscriber base falling to 50.3 million, which represents a 5.2% quarter on a quarterly decline.

The telecoms landscape have been experiencing a turbulent business operating environment with the decline in voice revenue due to increased offerings of internet-enabled multimedia (voice,  images, and video calls) mobile applications such as WhatsApp and BBM Messenger.

MTN has not also given an update on its proposed listing on the Nigeria Stock Exchange, NSE yet.

 

 

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