MTN GROUP delivered a solid operational and financial performance in the first nine months of this year, despite difficult macroeconomic, geopolitical and regulatory conditions, though cautioned that the outlook for the rest of the year remained challenging
In its quarterly update for the period ended September 30, 2022, released on Friday, the mobile operator said group service revenue increased by 14.3%, led by data revenue, which rose by 33.2%, while fintech surged by 12.9%. Earnings before interest, tax, depreciation and amortisation (Ebitda) grew by 24.7%. Total MTN Group subscribers grew by 6.8%, to 285 million.
Group president and chief executive Ralph Mupita said: “The rise in energy, food prices and general inflation, as well as interest rates, continued to put pressure on consumers and our business. Weakening local currencies…