Monday , 17 December 2018
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MTN Group raises FY subscriber growth forecast

MTN Group raises FY subscriber growth forecast

MTN Group has raised its full-year subscriber guidance, saying that it plans to add 17.5 million net subscribers this year, compared with previous guidance of 17.25 million. It said growth in its domestic South African market helped offset contraction in its largest market, Nigeria. The MTN customer base grew 2 percent to 219 million in the three months to September. The improved outlook is based on improved customer growth in South Africa, Cameroon and Iran, offset by weaker results in Nigeria. 

Performance in Q3 was hit by continued aggressive competition and stringent regulatory requirements, CEO Sifiso Dabengwa said. He said the South African operation delivered an improved performance in the prepaid segment, supported by competitive offers, while the Nigerian operation faced a challenging regulatory environment, resulting in lower-than-expected growth.

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