MTN Nigeria announces its service revenue increased by 17.2%
… Confirms plans to float on the Nigerian Stock Exchange in the first half of 2019
Mobile telecommunications giant, MTN Nigeria has announced that its service increased by17.2% for the year ended in December, 2018.
Further reports revealed that data revenue increased by 39.3%, fintech revenue also increased by 32.7%.
While the digital revenue, reportedly, decreased by 58.1%, the earnings before interest, depreciation and amortization (EBITDA) grew by 30.8% to N453.1 bn in the year under review.
MTN Nigeria continues to lead the pack with huge numbers as it mobile subscribers grew by 6 million to 58 million.
Speaking on this finicial results for the year under review, CEO, MTN Nigeria, Ferdi Moolman said: “In 2018 we rebuilt the base; adding another six million Nigerians to our network, giving a total of 58 million people access to worldwide communication services.
“This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money.
“This included the deployment of proactive interventions to improve customer experience, together with the enhancement of network quality and coverage, and the optimization of our services portfolio.
“We also enabled an additional 8 million people to access the possibilities that the internet provides, bringing our total data subscriber base to 44 million, of which 18.7 million use more than five megabytes per month.
“We are now even better positioned to ensure that everyone can access the benefits of a modern connected life.
“We are excited to have been given the privilege to continue playing a role in facilitating this, and are grateful to our customers, our people, our partners and our regulator for making this possible.
“We understand how access to the opportunities enabled by the internet can open up new industries even in the remotest areas of our country. Thus, we will continue to focus on delivering social innovations like mobile electricity, financial services for all; and leveraging our technology as a vehicle to enable high-impact mobile solutions in education, health and agriculture in our communities – urban and rural.”
Moolman also confirmed that there are plans by MTN to list by introduction on The Nigerian Stock Exchange during the first half of 2019, and this is to create “new telecoms asset class for investors” in Nigeria.
Business and Lifestyle Editor at Wheel NG