MTN attributed the improvements to network investments of R10.1 billion, helping to improve its network availability to 95%.
MTN’s latest annual results have revealed its service revenue in South Africa was around 2.5% higher in 2023 than in 2022, while customers increased by about 2.4%.
Most of the service revenue growth was attributed to increased data revenue, which grew by 7.4%. Data contributed 47.8% of MTN’s service revenue. With regards to wholesale revenue, MTN specifically pointed to a 26.1% increase in national roaming revenue thanks to its agreement with Cell C, for which MTN manages all network infrastructure, and the steady scaling of a multi-year national roaming agreement with Telkom.MTN described its South African performance as “resilient” in light of high import costs due to the weakening rand and inflation impacting customers’ spending.
“By December 2023, MTN SA’s network availability had improved significantly and ahead of schedule, to approximately 95%.” MTN South Africa’s earnings before interest, tax, depreciation, and amortisation declined by 5.8% when excluding gains from the sale of some of its towers.MTN said it continued with its cost optimisation drive to safeguard profitability and cash flows, underpinned by its expense efficiency programme.
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