MTN Group CEO Rob Shuter
Of the top biggest markets of the MTN Group, the Nigerian unit is at the second spot in terms of service revenue growth rate with a 14.4%, while MTN Irancell and South Africa recorded 15,2% and 2.5% respectively.
He said group voice revenue growth of 5.4 percent benefited from strong growth in Nigeria and Ghana of 15.2 percent and 20.6 percent respectively, while group data revenue grew by 26.9 percent.
The telecommunications firm, which now controls 36.4 per cent of Nigeria's telecoms market, noted that in the first quarter of 2018, its Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) margin expanded to 41.8 per cent given well-controlled expenses and a stable naira.
The South African telecommunications firm disclosed that it has made good progress on Nigeria and Ghana's Initial Public Offering (IPO) processes, "which we aim to conclude during 2018".
MTN has released its quarterly update for the period ended 31 March 2018. This is really low when compared with the growth of revenue from data.
Aina attributed this development to the company's "growth in data revenue and increased scale".
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Group subscribers increased by 1.9% quarter-on-quarter with net additions of 4.1 million helped by Ghanaian subscriber growth in the quarter, with net additions of 484000 to reach a total of 16.2million subscribers.
It said constant currency (organic) service revenue increased by 14.4 percent and data revenue increased 73.2 percent year-on-year (YoY).
He said digital service revenue is a "material opportunity for the group, led by MTN Mobile Money and rich-media services". "MoMo revenue increased by 52.4% year-on-year", Shuter said.
The group-wide network investment enhanced data quality in metro areas. "We also maintained positive momentum in growing our subscriber base and maintaining our network leadership position". "On 20 April 2018, we received all required regulatory approvals to proceed with the IPO in Ghana, which we expect to launch in late May 2018".
A revised licence agreement for MTN Cameroon will also be signed this month, the group said.
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