Fintech, business sales boost MTN South Africa

has delivered a reasonably good set of results for the six months to 30 June 2024, despite the moribund economy in which it is operating.

“MTN South Africa, which completed its network resilience plan in the period, demonstrated encouraging progress in key areas of the business. This helped to drive some acceleration in overall service revenue,” said MTN Group CEO Ralph Mupita.Ebitda margin expanded to 36.6%, up by 0.4 percentage points year on year, while capital expenditure came in at R4.

However, the biggest bright spot in the MTN South Africa numbers came from its fintech business, where service revenue jumped by 59.1% in the first half. This was underpinned by airtime advance initiatives.

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South Africa Drop to 4th Most Attractive Investment Destination in AfricaRand Merchant Bank released a, 'Where To Invest In Africa 2024' report. South Africa is in fourth place as African countries that are favourable to invest in.
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