Oluchi Chibuzor with agency report
The MTN Group, Africa’s largest wireless carrier, increased sales from operations by 10 per cent from a year earlier and added 2.5 million subscribers in the third quarter despite regulatory pressures in its largest markets that have wiped out more than two-thirds of the company value in recent years.
According to Bloomberg, the Johannesburg-based firm boosted customer base to 225.4 million.
The company has been embroiled in regulatory disputes in its largest markets, including Nigeria, Iran and Ghana.
“MTN recorded an improved operational performance in many markets in the third quarter with group service revenue up 10 per cent year-on-year, ahead of our medium-term target of upper-single-digit growth,” its Chief Executive Officer Rob Shuter said in a statement yesterday.
“These results were…
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