The MTN Nigeria has staked up its earnings in Nigeria with the 2018 full year service revenue hitting N1.04 trillion, about 17.2 percent over the N884.5 billion it recorded in 2017 financial year. MTN MTN-Office At this record breaking revenue figures which also came with a huge operational margin of 43.6 percent, the company has consolidated its lead in Nigeria’s private sector earnings which it started over ten years ago.
The Chief Executive Officer of MTN Nigeria, Ferdinand Moolman, told financial press in Lagos that the strong performance was driven by its voice and data growth which rose by 18.7 percent and 39.3 percent respectively.
But the voice services dominated the revenue profile with N783.1 billion or 76 percent of the total revenue, just as the mobile telecom giant recorded additional 5.9 million subscribers to bring its total subscriber base to 58.2 million. It also added 4.5 million active data users to bring its total data subscriber base to 18.7 million which contributed N150.7 billion or 15 percent to the total revenue.
The company also recorded substantial rise in its Fintech business which grew in revenue by 32.7 percent to N28.6 billion during the financial year.
Moolman said the company’s business is being built around enabling and supporting broader economic development in Nigeria. Consequently, he disclosed that over 850 large corporate organisations and over 800,000 small businesses are running on its network with greater reach and efficiency.
MTN Nigeria, according to him, is also powering over 50,000 ATM and PoS electronic payment equipments, among other private and public sector communication platforms.
Source: Emeka Anaeto, Vanguard.