MTN Group reports 182.7m subscribers; raises full-year forecast

26 Oct 2012

Pan-African mobile operator MTN Group has reported ‘satisfactory’ results for the three months ended 30 September 2012, underpinned by solid net subscriber gains – up 3.8% year-on-year to 182.7 million – driven in particular by growth in South Africa and Nigeria, two of its biggest markets. In its home market, it reported 4.1% y-o-y growth to 24.498 million, boosted by strong pre-paid user take-up, while in Nigeria it said customer numbers increased by 5.7% (on a net basis) to 45.640 million. In the wake of the strong performance, the Johannesburg-based carrier raised its guidance for net additions in the full year from 21.25 million to 23.70 million. MTN is active in a total of 22 African and Middle Eastern markets.

The group’s MTN Irancell unit continued to deliver a sound operational performance despite an increasingly challenging economic and political environment. The subsidiary expanded its base by 2.8% y-o-y to 39.382 million at end-September, it said, at which date it also had 230,000 WiMAX users. In other markets of note, MTN Ghana increased its subscriber base by 4.8% in the quarter to 11.270 million; MTN Syria added a net 115,000 users (+2.0%) in Q3 despite the ongoing civil unrest, for a total of 6.021 million; MTN in Yemen boosted its total by 5.4% to 4.445 million; and the group’s Zambian operation increased by 10.1% to 3.460 million.

Ghana, Nigeria, South Africa, Yemen, Zambia, Iran, MTN Group,

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