MTN Nigeria Boosted South African company owned by N1.06trn in 2018 …

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MTN Nigeria lifted the South African Group to a brilliant financial performance in 2018 with N1.06 trillion (R42.2 billion) revenue generated from voice, data and other services in the year.

The telecom also accounts for the largest subscriptions across several operations of the Group.

According to the MTN Nigeria, as at December 2018, had 58 million active subscriptions, which represented 25 percent of the Group's total subscriptions of 233 million.

MTN realised N799 trillion (R31.8 trillion) from voice, while N153 trillion (R6.1 trillion) was attained from data. The result showed that N27 trillion (R1.08 trillion) was generated from its digital services, while N29 trillion (R1.1 trillion) was realized from its fintech service. Revenue generated from other services stood at N47.7 billion (R1.9 billion).

Based on Nigeria, the Group said it had revised its medium-term (three-to-five years) guidance on revenue growth in single-digit growth in constant currency terms to double-digit growth. While Africa is still growing, the Group says it would be investing N196 billion (R7.8 billion) on its Nigeria operation this year.

"The markets in which we operate remain underpenetrated in terms of mobile services. As we benefit from Africa's young and growing population, we expect growth in the core business over the medium term, "it stated. Meanwhile, the Nigerian Stock Exchange (NSE) this year. MTN, in a statement announcing its results, said it plans "to list by introduction on the Nigerian Stock Exchange during the first half of 2019 and is looking to simplify the capital structure ahead of this listing."

"The company's listing on the exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story. This will be achieved through a market listing and will be followed by a conditional market. "Over time, and subject to market conditions, we anticipate that the participation of Nigerians in the ownership of the business will increase from around 20% to 35%," it stated.

The Chief Executive Officer (CEO), MTN Nigeria, Ferdi Moolman, speaking on the company's achievements said: "In 2018 we rebuilt the base; 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, which makes customers more valuable for their money. This includes 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, of which 18.7 million uses more than five megabytes per month. "We are now even more likely to access the benefits of a modern connected life.

We are excited about continuing our role in this field, and are grateful to our customers, our people, our partners and our regulator for making this possible.

"We understand how to access the opportunities enabled by the Internet can open up new industries in the remotest areas of our country.

"Thus, we will continue to focus on delivering social innovations like mobile electricity, financial services for all; "Moolman said," we are moving towards high-impact mobile solutions in education, health and agriculture in our communities, urban and rural.

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