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MTN increases revenues, subscriber base

JOHANNESBURG – MTN has reported group service revenue growth of 14,4 percent to R196,5 billion (US$10,8 billion) for the year ended December 31, 2022.

The pan-Africa mobile operator disclosed group data revenue was up by 30,4 percent to R73,7 billion.

Group fintech revenue increased by 8,6 percent to R17,3 billion during the period.

Subscribers increased by 6,1 percent year-on-year (YoY) to 289,1 million in MTN’s 19 markets.

Ralph Mupita, MTN Group President and Chief Executive Officer, said the company delivered a solid operating and financial performance in 2022, as it continued to execute on its Ambition 2025 strategy.

“We are pleased with the business’ continued resilience under challenging global and regional macroeconomic conditions,” Mupita said.

In South Africa, operating conditions were significantly impacted by the national grid power availability that worsened in the second half of the year.

Globally, ongoing geopolitical volatility, supply chain constraints driven by China’s zero COVID-19 policy and exchange rate volatility also added pressure to operating margins.

“In the context of the ongoing macroeconomic and geopolitical volatility, we remain focused on executing our Ambition 2025 strategy,” Mupita said.

– CAJ News

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