Strong growth for MTN

19 Nov 2004

South African wireless operator MTN Group today reported strong growth in its subscriber base and revenues for the six months ended 30 September 2004. The group’s total mobile customers across Africa increased by 40% in the six months to 11 million, while group revenues rose to ZAR13.7 billion in the same period, up 22%. The half-year figures showed subscriber growth in all six of MTN’s African wireless operations – South Africa, Nigeria, Cameroon, Uganda, Rwanda and Swaziland – with Nigeria reporting a 32% increase, taking the number of MTN users in that country to over 2.5 million. The cellco’s core South African subscribers reached a total of 6.88 million.

MTN’s operations outside of South Africa now account for 40% of group revenues. CEO Phuthuma Nhleko said that the operator will continue to explore possibilities in new markets, not only in Africa but in regions such as the Middle East, where it has thus far failed to secure a licence.

South Africa, MTN Group