MTN reports Nigeria as biggest market, up 2.1 percent to 61.1 million in the three months through March, while att-home in South Africa, the operator’s second-largest market, they were little changed at 28 million.
The continent’s largest wireless operator, said subscriber numbers rose 1.8 percent to 227.5 million in the first quarter even as a declining oil price and a weaker economy affected growth.
In a statement on Thursday, the Johannesburg-based company said MTN was “impacted by a weaker macro-economic environment following the reduction in the price of oil in 2014 and continued price competition.
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| NCC report |
MTN Group president and CEO, Sifiso Dabengwa comments: “MTN’s results for the quarter were impacted by a weaker macro-economic environment following the reduction in the price of oil in 2014 and continued price competition. MTN Nigeria is improved subscriber growth trends although revenue and minutes growth remains a challenge. While South African operation’s subscriber growth was impacted by seasonality and some operational challenges, revenue growth was encouraging.
MTN operates in 22 countries across Africa and the Middle East.
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