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Half-year earnings of MTN’s Ghanaian business rocket

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Half-year earnings of MTN’s Ghanaian business rockets

Group’s fourth-largest market by subscribers grew earnings before interest, tax, depreciation and amortisation 50.3%MTN’s fast-growing Ghanaian business increased earnings by more than half in the six months to end-June thanks in part to better mobile-money revenues.MTN Group’s fourth-largest market by subscribers grew earnings before interest, tax, depreciation and amortisation 50.3% to 1.2bn Ghanaian Cedi .

Service revenues rose 18.8%, after growing 27.9% in the first half of 2018. Subscriber numbers increased 6.2% to 21.3-million.Data revenue grew 27.7% and MTN Mobile Money revenue increased 53.3% mainly thanks “to a higher number of person-to-person transactions as well as good growth in more advanced services such as retail merchant payments”.

MTN’s shares, which have fully recovered from a sell-off in the second half of 2018 stemming from regulatory woes in Nigeria, were 0.4% down at R110.90 in early trade on Monday.

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