An MTN stand at an expo. PHOTO | FILE | NMG Audited financial statements show the South Africa-based telco’s profit after tax declined by 13.17 percent to $1.12 billion from $1.29 billion in 2020.
The value of mobile money transactions rose by 56.8 percent to $239.4 billion while the number of transactions increased by 41.1 percent to 10 billion transactions in the same period.
MTN Group’s service revenue grew by 18.3 percent to $11.35 billion from $9.6 billion while data revenue rose by 36.5 percent to $3.73 billion.
Pan African mobile phone operator MTN Group’s net profit for the year ended December 31 fell by 13 percent despite a $77 million gain on the sale of its 12.95 percent shareholding in the Uganda subsidiary.
Audited financial statements show the South Africa-based telco’s profit after tax declined by 13.17 percent to $1.12 billion from $1.29 billion in 2020 as higher operational expenses more than offset the gains on the sale of 2.9 billion shares in MTN Uganda and the gains on the disposal of Yemen subsidiary for $53 million .
Total revenues for the telco with an estimated 272 million customers in 19 markets across the continent increased by only one percent to $12 billion from $11.85 billion in the same period. Financial technology
According to the financial statements, financial technology (fintech) revenue, which comprises mobile money and airtime lending service, grew by 30.9 percent to $1.05 billion, with active Mobile Money (MoMo) customers increasing by 22.6 percent to 56.8 million.
The value of mobile money transactions rose by 56.8 percent to $239.4 billion while the number of transactions increased by 41.1 percent to 10 billion transactions in the same period.
Ayoba, the group’s instant messaging super app, reached 11.6 million monthly active user milestone as at December 31, 2021, representing an additional 6.1 million users since December 2020.
MTN Group’s service revenue grew by 18.3 percent to $11.35 billion from $9.6 billion while data revenue rose by 36.5 percent to $3.73 billion.
Total costs, on the other hand, increased by 14.3 percent largely due to higher spending on network rollout, increased commissions, impact of forex translations and non-operational and on-off items such as Covid-19 donations and arbitration settlement costs.MTN South Africa’s business units achieved healthy growth, while MTN Nigeria and MTN Ghana delivered service revenue of more than 20 percent on a constant currency basis.“The performance was underpinned by pleasing growth in our larger […]
