MTN To Focus On Music Streaming Business And FinTech
MTN has revealed that it will prioritise its FinTech operation, 4G coverage, mobile money, recovery of prepaid, MusicTime and Ayoba as the primary part of its business objectives for the second half of 2019.
The operator announced the plans for its key markets including Nigeria and South Africa at the presentation of its results for the six months that ended on 30 June 2019 in Johannesburg on Tuesday.
Results included 12 percent growth in headline earnings per share and service revenue growth of 9.7 percent.
Rob Shuter, MTN’s Group President and CEO, said that MTN had a satisfactory first half that reported strong financial results, steady commercial momentum and good strategic progress.
Shuter added that commercially, MTN had seen strong subscriber growth of 7.7 million within the first six months of the year and reached a total of 240 million subscribers. Active data users increased by 3.5 million to an impressive 82 million, and the 30-day active Mobile Money users increased by 2.4 million to 30 million.
MTN noted in its statement that in South Africa, it had been dealing with a weak macro-economic environment, along with the repricing of out-of-bundle data rates and the introduction of new end-user requirements.