MTN Group published its quarterly update for the period ended 31 March 2019, registering a 10% year-on-year increase supported by the continued expansion in voice, data and fintech revenue.
Outgoing voice revenue increased by 5,9%, data revenue increased by 18,3% and fintech revenue increased by 30,6%. Digital revenue declined by 45,4%. Currency markets were favourable in the quarter, resulting in reported service revenue growth higher than constant currency rates.
“MTN’s positive commercial momentum continued in the first quarter with a pleasing operational performance across the markets, led by South Africa, Nigeria and Ghana,” said Group president and CEO, Rob Shuter.
In its efforts aiming to become a digital operator, MTN added 2,6 million active data subscribers and 1,2 million MTN Mobile Money subscribers.
“We have launched Africa’s first instant messaging platform ‘Ayoba’ in Ivory Coast and Cameroon and plan further roll out across other markets in the second half of the year. We will also integrate payments into the Ayoba service as part of our broadening of the fintech business”, MTN CEO commented.
“We remain committed to achieving our medium-term targets through delivering against all elements of our BRIGHT strategy and in particular executing our plans to access our growth curves”, he concluded.