Thursday, March 11, 2010
MTN Aims to add 20 million in 2010
Driven by strong subscriber growth in Iran, Nigeria and Uganda, MTN said that its revenues grew 19% in constant currencies in 2009 to 111.95 billion South African rand (15.1 billion US dollars). Reported capital expenditure rose 11% to 31.25 billion rand in 2009, but MTN expects to cut capex by 24% to 23.6 billion rand in 2010.
Reported data revenues rose by 24% in 2009 to 3.34 billion rand, while SMS revenues also climbed 24% to 5.44 billion rand. MTN also said it has now rolled out mobile money transfer services in South Africa, Uganda, Rwanda, Ghana, Cote d'Ivoire, Benin and Yemen. In Uganda, it now has 680,000 subscribers for its mobile money transfer service.
MTN expects to add 20 million new subscribers in 2010, which would take its total subscriber base to 136 million. source: MTN presentation
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