The MTN Group has passed the milestone of 150 million mobile subscribers. Speaking at the South African company's AGM, CEO Sifiso Dabengwa announced that MTN increased its subscriber base by 7.4 million subscribers or 5 percent to 149 million customers for the four months to 30 April, and has subsequently passed 150 million mobile subscribers across its 21 operations. Margins in the majority of MTN's key markets in Africa and the Middle East remained robust, although margin pressure in markets with high levels of price competition was experienced. He attributed the robust margins to ongoing cost control and efficiency initiatives, despite the negative impact of inflationary pressures and higher fuel costs. He also announced that MTN has decided to not set up a formal subsidiary company board for the international operations. This follows a study by a board sub-committee on the matter.
