Inflation averaged more than more 18% across its markets, with higher interest rates and general prices eroding the spending power of customers. Both Sudan and Iran are suffering hyperinflation, with Sudan having now been hit by a conflict in mid-April that has led to a shortage of basic goods. In Nigeria, companies have also been hit by the introduction of a new currency, which has led to a shortage of notes, suppressing economic activity.
Across its 19 markets, MTN grew its subscribers by just over 5% to about 291 million, but it said it is considering an"orderly exit" from three west African operations: Guinea-Bissau, Guinea-Conakry and Liberia.
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Business Matters | Energy Crisis | 08 May 2023[ICYMI] What are the solutions for the constant power cuts in South Africa? On the latest BusinessMatters, we highlight the solutions we can take during these adverse times. Watch now to find out more; click here: Nedbank
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