Investcom buy pushes MTN

2 Nov 2006

South Africa’s MTN Group has reported a 37% jump in subscriber numbers for the three months to the end of September thanks to its acquisition of Investcom. Even without the Investcom deal, MTN says, customer numbers grew a healthy 8%. The Group had 34.77 million active subscribers across Africa and the Middle East at the end of September, up from 25.37 million three months earlier. In its domestic market MTN saw its customer base grow 7% over the quarter to 11.16 million. In Nigeria, user numbers were up 8% to 10.38 million, while in Ghana there was 21% growth to reach a total of 2.44 million. Other high-growth markets included Syria and Uganda, where subscribers were up 20% and 14% respectively over the third quarter. Investcom’s operations accounted for 7.38 million subscribers, up 20% since June.

Nigeria, South Africa, MTN Group, MTN Nigeria,

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