0
Wireless

MTN Group revenue rises 9% in H1, announces plans to exit Middle East

Thursday 6 August 2020 | 09:20 CET | News
MTN Group reported service revenue growth of 9.4 percent to ZAR 80 billion in the first six months to 30 June, and EBITDA up 10.9 percent year-on-year to ZAR 42 billion, as efficiency initiatives drove improvement in margins. The South Africa-based mobile operator also said it plans to exit the Middle East over the medium term to focus on Africa and is in advanced talks to sell its majority stake in MTN Syria. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: MTN / MTN Syria
Countries: Africa / Middle East
::: add a comment
This article is part of dossier

Coronavirus


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

MTN Ghana seeks Supreme Court review over SMP designation

Published 07 Sep 2020 10:53 CET | Ghana
MTN Ghana says it has filed a writ at the Supreme Court to seek a review of the High Court's decision to dismiss its suit against ...

MTN Group appoints acting group CFO as well as new South African CFO

Published 01 Sep 2020 11:29 CET | Africa
MTN Group has announced changes to the group board of directors, as well as to the board of major subsidiary MTN South Africa. ...

MTN Ghana runs 'MoMo Pay & Win' promotion in August and September

Published 27 Aug 2020 11:06 CET | Ghana
MTN Ghana is running a promotion called 'MoMo Pay & Win' for customers who make payments for goods and services through MoMo ...

MTN Uganda net profit up 9% in H1, subscriber base expands 10%

Published 19 Aug 2020 14:11 CET | Uganda
MTN Uganda has reported a 9.1 percent increase year on year in net profit to UGX 442.6 billion in the first half of 2020, driven ...

MTN Group announces CFO Mupita to replace Shuter as CEO in September

Published 19 Aug 2020 11:04 CET | Africa
MTN Group has announced that CFO Ralph Mupita has been appointed as the new group president and CEO with effect from 01 ...

MTN Group denies plans to exit Iran

Published 12 Aug 2020 10:14 CET | Iran (Islamic Republic of)
MTN Group and MTN Irancell said that there are no immediate plans for MTN to exit Iran, and the 51.7 million customers in the ...

MTN Group mulls sale of stake in Iranian ride-hailing app Snapp

Published 10 Aug 2020 11:24 CET | Iran (Islamic Republic of)
The MTN Group is considering selling its stake in Iranian ride-hailing app Snapp as it trims its e-commerce portfolio and plans ...

MTN Ghana makes 22 arrests related to suspected MoMo fraud

Published 07 Aug 2020 09:59 CET | Ghana
MTN Ghana said it has developed aggressive mechanisms to deal with fraudsters and protect the accounts of Mobile Money (MoMo) ...

MTN South Africa revenue falls 6% in H1 on loss of wholesale roaming, EBITDA up 3%

Published 06 Aug 2020 16:05 CET | South Africa
MTN South Africa reported a 5.7 percent decline in revenue to ZAR 21.12 billion in the first six months of 2020. The company ...

MTN Group plans to sell stake in Jumia - report

Published 06 Aug 2020 09:39 CET | Africa
MTN Group is planning to sell part or all of its USD 243 million interest in Jumia Technologies as it seeks to pay down debt and ...

MTN Group launches African API marketplace Chenosis

Published 04 Aug 2020 09:58 CET | Africa
MTN Group says it is starting a pan-African API marketplace called Chenosis. It said Chenosis will enable developers to tap into ...

MTN Group expects higher earnings in H1

Published 31 Jul 2020 20:30 CET | Africa
MTN Group expects to report growth in earnings per share (EPS) of 160-170 percent for the first half. In a trading a statement, ...

MTN Ghana revenue increases nearly 20% in H1

Published 31 Jul 2020 12:36 CET | Ghana
MTN Ghana's revenue increased by 19.5 percent to GHS 2.89 billion in the first six months of 2020. EBITDA rose 29.1 percent ...

MTN Nigeria service revenue up nearly 13% in H1

Published 30 Jul 2020 10:36 CET | Nigeria
MTN Nigeria said it added 6.8 million new subscribers in the past year, for a total of 71.1 million at the end of June. Compared ...

MTN Cameroon expands MoMo capitalisation in line with rules, changes directors

Published 21 Jul 2020 12:10 CET | Cameroon
MTN Cameroon subsidiary Mobile Money Corporation has increased its MTN MoMo capital from XOF 50 million to XOF 850 million, ...