MTN Group on Monday cautioned that competition in South Africa’s telecoms sector is intensifying.
As a result, the consumer prepaid business in South Africa recorded year-on-year service revenue growth of just 0.8%, with a “slight slowdown” to 0.3% year on year in the final three months of 2024.
However, it wasn’t all bad news, with post-paid growth showing solid growth. There was also an improvement in the decline of legacy voice services, with revenue there falling by 5.5% year on year . “While total service revenue moderated slightly to 2.5% in the fourth quarter, largely due to base effects and lower prepaid performance, the business delivered some encouraging acceleration in key commercial metrics in the latter part of the year. Prepaid data returned to growth from November as we began to anniversary increased by 6.1% to 4.3 million, driven by stronger uptake of home propositions as well as integrated voice and data plans. Prepaid customers increased 5.5% to 29.9 million.
MTN South Africa’s enterprise business continued its turnaround, delivering service revenue growth of 10.8% in 2024.
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