MTN Nigeria’s voice and data revenues grew by N192.01bn in the first nine months of 2021 to N1.09tn, compared to the corresponding period in 2020.
The telecommunications company said its total revenue rose to N1.21tn in the period under review from N975.76bn in the same period a year earlier.
Its revenue from fintech witnessed a continued rise, as it grew from N32.37bn in the first nine months of 2020 to N50.24bn this year.
Commenting on the company’s growth in the third quarter of 2021, the Chief Executive Officer, Karl Toriola, said, “In the first nine months of 2021, we continued to enhance the resilience of the business, improve our performance and make good progress towards our Ambition 2025 strategy.
“Creating shared value has become a strategic priority within the Ambition 2025 framework. As a result, we continue to deepen our support for and partnerships in Nigeria.”
He said the telecom ban in some locations in the nation had slightly affected some of the company’s business activities.
Toriola added, “The resilience we are building in the business is reflected in our performance, demonstrating our ability to achieve continued growth despite the ongoing impact of SIM registration and activation restrictions on subscriber growth.
“While our overall subscriber numbers have continued to decline over the last quarter, this has been at a reduced rate, and we have seen our data subscriber numbers return to growth, increasing by 2.5 million.
“We expect the decline in the overall subscriber base to bottom out and return to positive net additions in Q4 2021 as we progressively ramp up our SIM registration and activation infrastructure while adopting and aligning with the new regulations.”
He added that the company’s service revenue had increased by 23.7 per cent, ahead of the country’s rate of inflation.
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Source: MTN’s voice, data revenue grows by 21.43%