MTN reveals important subscription and cellular cash unit development in 2022

MTN reveals important subscription and cellular cash unit development in 2022

Pan-African cellular community operator MTN has launched its annual monetary outcomes for the yr ended December 31, 2022, displaying robust development within the variety of subscribers and its cellular cash unit.

MTN’s complete subscribers rose 6% to 289 million, with knowledge subscribers rising by greater than 12% to 137 million and Cell Cash customers up by 21% to 69 million. The corporate additionally reported a 15.3% improve in service income to R194 billion whereas earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA)  elevated by 14.3% to R90 billion.

Cell Cash transaction quantity was up 34% year-on-year to 13.4 billion whereas the worth of the transactions was up 16% (utilizing fixed foreign money) to $221 billion. The variety of brokers elevated by 30% to 1.3 million and retailers by 86% to 1.5 million.

MTN’s numbers for the monetary yr ended 31 December 2022 (Picture supply: MTN)

“The structurally larger demand for knowledge and fintech providers was sustained, with knowledge visitors and fintech transaction volumes growing by round a 3rd every,” mentioned MTN Group President and CEO Ralph Mupita. 

“To assist this, we invested greater than R38 billion in our community, IT and platform infrastructure – a rise of 17%, whereas on the similar time lowering customers’ common price to speak by practically 23%.”

In South Africa, the corporate’s efficiency was stable with development in service income of three.6% to virtually R41 billion and an EBITDA margin of 39.2%. Loadshedding impacted EBITDA by R695 million as the corporate incurred further expenditure to satisfy the necessities of energy, safety and repairs, the latter because of the vandalism of web sites.

“With the state of catastrophe laws gazetted, South Africa now has a singular alternative to speed up efforts to safe the resilience of vital nationwide infrastructure resembling telecommunications. Authorities and enterprise should collectively seize this second and act decisively to take care of the quadruple crises of power; logistics; crime and corruption; and youth unemployment. Inaction dangers South Africa being a failed nation-state (sic),” added Mupita.

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