MTN records strong Q1 service revenue growth in SA, Nigeria and Ghana

Mobile phone company MTN declared recently that it met its medium-term revenue growth target in the first quarter by delivering 10 percent year-on-year growth led by strong operational performance in South Africa, Nigeria and Ghana.

According to the Group CEO, Rob Shuter,”We are encouraged by the operational progress we continue to see across the business, supported by the network roll-out we achieved and enhancements to the propositions that we offer to our customers,” group CEO Rob Shuter said.

“In South Africa, we implemented changed pricing for pre-paid propositions where we reduced, materially the out-of-bundle tariffs, making data services much more affordable.”

Shuter said MTN had taken note of a provisional report from South Africa’s Competition Commission inquiry into data services and would respond by June 14.

He added that the company remained of the view that the release of high demand spectrum in South Africa was critical to providing affordable and ubiquitous data services for citizens.

The commission found that South African data prices were high compared to other countries.

MTN group chief financial officer Ralph Mupita said the company’s growth in service revenue was supported by the continued expansion in voice, data and fintech revenue which increased 5.9 percent, 18.3 percent and 30.6 percent respectively.