MTN Group Reaches 251M Global Customers, Others

MTN Group Reaches 251M Global Customers, Others


With the MTN group president and CEO Rob Shuter  stepping aside from his role at the end of his contract in March 2021, the company said it reached a total of 251 million customers with additional 18 million users.

The telco further explained that there was an increased of  data users by 17 million to 95 million and  fintech customers by 7 million to 35 million. 

This it said, while giving the scorecard for for the year ended 31 December, 2019.

“This growth is central to our belief that everyone deserves the benefits of a modern connected life. We also saw improvements in customer experience, network quality and market share across the group”.

According to the Shuter, on the financial side, we delivered service revenue growth of 9.8 percent with an acceleration in the second half. 

“Our EBITDA margin improved and reported headline earnings per share grew by 62 percent. Our network rollout brought a further 69 million people into 4G coverage whilst reducing capex intensity.  Improved cash flows during the year supported stable balance sheet ratios.

“The group’s results were supported by double-digit growth in service revenue by both MTN Nigeria and MTN Ghana. The performance of MTN South Africa was impacted by economic pressure, new data usage rules and changes in recognition criteria for roaming revenue from Cell C due to delayed payments under the networking roaming agreement.

MTN Nigeria office

In constant currency terms, group service revenue increased by 9.8 percent to R141.8 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) expanded by 13.6 percent to R53.4 billion. The holding company leverage ratio improved to 2,2x, which is well within the group’s guidance range of 2,0 to 2,5x, and we reduced our capex intensity to 17.5 percent from 19.3 percent, indicating greater efficiency in deploying assets. Driven by the strong earnings performance, operating cashflow increased by 18 percent and the ROE increased from 11.5 percent in 2018 to 14.3 percent in 2019 on an IAS17 basis”.

“We are well positioned for growth. Guided by our well-defined BRIGHT strategy, we are building our growth strategy on our digital operator model while optimising efficiencies, capex and cashflow”.

The Group also added that its instant messaging platform Ayoba was live in 12 markets with two million monthly active users. 

“We launched MoMo in South Africa and Afghanistan and received our super-agent licence in Nigeria, registering more than 100 000 agents by year-end. We also delivered R14 billion of asset realisations within the first 12 months of our programme and MTN Nigeria listed on the Nigeria Stock Exchange. We recorded progress on various regulatory issues, including the AGF tax matter in Nigeria. Relationships with stakeholders across our markets improved, and we reported our highest employee sustainable engagement score yet”.