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MTN lowers FY subscriber growth outlook
2015-10-22 13:11:00| Telecompaper Headlines
(Telecompaper) Africa and Middle East mobile operator MTN has cut its guidance for net subscriber additions this year, hurt by required customer registration processes in Nigeria and Cameroon. It now expects to add a net 14.8 million new customers this year, compared to its guidance in June of 16.75 million. In Nigeria, the forecast was cut to 4.5 million from 5.0 million, after MTN already disconnected around 5.1 million Sims in the third quarter for failed registration. The forecast in Cameroon was slashed to 750,000 from 1.15 million. Overall, MTN managed to grow its customer base 0.9 percent quarter-on-quarter in Q3, to a total 233.05 million at the end of September. Mobile Money subscribers reached 36.5 million, up 12.7 percent from three months earlier. Data traffic rose 120 percent year-on-year, and data revenue at constant currency rates was up 27.0 percent, accounting for 23.2 percent of total revenue.
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Category:Telecommunications