MTN Nigeria revenue grew by 23% in 2018

MTN

Nigeria’s largest mobile carrier, MTN Group said its local unit in Nigeria, MTN Nigeria grew its revenue by 23% for the full year 2018.

The group said in its latest disclosure that it delivered a 10,7% increase in constant currency terms. This was led by the growth of 17,2% by MTN Nigeria, 23,0% by MTN Ghana and 4,2% by MTN South Africa.

At 31 December 2018, the group said it has about 233 million subscribers, up by 16 million from the end of 2017. Robust growth in voice revenue, along with the continued expansion of data and the acceleration in wholesale revenue in the fourth quarter, supported overall service revenue growth.

The company said the markets in which we operate remain under-penetrated in terms of mobile services. “As we benefit from Africa’s young and growing population, we expect to maintain growth in the core voice business over the medium term. In 2018, voice revenue increased by 7,3%. This was underpinned by subscriber growth of 16 million customers, our targeted customer value,” the company said.