The MTN Group is showing positive signs for growth following mitigating issues hindering the business in its Nigeria operations.
MTN is on the rebound after getting things under control in its Nigeria operation, with dividends and earnings expected to grow in the near future.“If you look at MTN, it is all about them unlocking some value in the Nigerian operation,” says Suliman.
As opposed to being linked to a discounted consumer price index, the leases are now majority naira-linked.The renegotiated costs do not include technology-based pricing and include an energy cost component indexed to the cost of providing diesel.One thousand of these sites will be rolled out over the next few years.
MTN saw total subscriber growth of 0.8% to 288 million customers, with active data subscribers growing by 9.2% to 150.2 million. This allowed the network to increase its 5G coverage by 44%, a nine-percentage-point increase since the beginning of the year and a 25-percentage-point increase since August 2023.
Farah pointed out that this resilience has been proven in areas with unexpected load reduction and provinces that experienced extreme weather conditions, such as KwaZulu-Natal, Western Cape, and the Eastern Cape. MTN is also developing four 5G-centred commercial proposals for mining, manufacturing, education, and logistics sectors. These will be concluded by the beginning of next year.
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