MTN’s business in Ghana, the mobile operator’s fourth-largest market, grew earnings by more than a third in the three months to end-March.
The West African nation accounts for about 9% of MTN’s total revenues, and is the network operator’s largest mobile money market by subscribers.Service revenue rose 21.9% compared with the same quarter a year before, as voice revenues climbed 20.3%, data revenues grew 22.3% and mobile financial services revenues surged 51%.Subscriber numbers grew to 20.8-million, from 18.6-million, MTN said.
MTN’s shares, which fell below R70 in September 2018 after the operator was slapped with two hefty fines in Nigeria, closed at R104 last week.
Yet charges SAs whose money built the company 10 times international price for data and calls