Telecom operator MTN Group said its service revenue decreased by 18.5 percent during the third-quarter of 2024. In constant currency, MTN said its service revenue rose 12.9 percent.
MTN Group President and CEO Ralph Mupita said: “There was an encouraging deceleration in blended inflation and reduced currency volatility across our markets in Q3 2024 relative to the first two quarters of the year.”
Voice revenue decreased by 31.3 percent.
Data revenue decreased by 15.3 percent.
Fintech revenue grew by 8.5 percent.
Total subscribers increased by 1.6 percent to 288 million.
Active data subscribers increased by 7.4 percent to 152.8 million.
Data traffic increased by 34.1 percent to 14 141 PB.
Mobile Money (MoMo) monthly active users (MAU) increased by 5.7 percent to 61.5 million.
Fintech transaction volumes increased by 17.4 percent to 14.9 billion.
Fintech transaction value increased by 27.1 percent to US$229.2 billion.
MTN has invested Capex of R19.8 billion in networks and platforms, reflecting Capex intensity of 14.7 percent – compared with medium‑term target range of 15 percent – 18 percent. This helped to support the robust data traffic growth of 34.1 percent (37 percent excluding JVs).
The number of active MoMo users rose by 5.7 percent to 61.5 million (excluding OTC customers). Fintech revenue increased by 28.9 percent.
MTN expects capex deployment for FY 2024 to fall within guidance of R28 – R33 billion (ex‑leases). MTN aims to maintain capex intensity within medium‑term target range. This incorporates an uptick in MTN Nigeria’s capex in Q4, to support the increased traffic growth on the network being driven by stronger demand.
MTN aims to achieve expense efficiencies of R7 – R8 billion between 2024 and 2026 to mitigate the impacts of macro‑volatility on its business.
Airtel Africa
For comparison, Airtel Africa said customer base grew by 6.1 percent to 156.6 million at the end of 2024 September.
Airtel Africa’s data customers increased 10.4 percent to 66 million. Data usage per customer increased by 30.9 percent to 6.6 GBs, with smartphone penetration increasing 5.3 percent to reach 42.9 percent.
Airtel Africa’s mobile money subscribers increased by 13.4 percent to 41.5 million. Airtel Africa’s mobile money transaction value increased by 30.1 percent in constant currency with annualised transaction value of $128bn.
Airtel Africa’s data ARPU grew 13.5 percent and mobile money ARPU grew 10.9 percent in constant currency. Airtel Africa’s ARPU rose 11.1 percent in constant currency.
Vodacom
Vodacom says its revenue increased by 3.2 percent to €3.7 billion during the July-September quarter of 2024.
Baburajan Kizhakedath
