MTN Nigeria has reported strong subscriber net additions of 2,3-million three-month period ended 31 March.
Active Mobile Money customers increased to 2-millio while data revenue increased by 73,2% year-on-year.
The Niara-basead service revenue increased by 14,5% to N248,3-billion, while EBITDA margin increased by 332bp to 41,8%.
MTN Nigeria invested N17,9-billion in capex during the three-month pperiod.
MTN Nigeria CEO Ferdi Moolman comments:”MTN Nigeria’s performance during the first quarter reflects the continuation of the positive momentum evidenced in the second half of 2017 following a period of increased investment and renewed focus on operational execution.
“We continue to evolve our data pricing aligned to the group’s dual-data strategy. With the strong progress made on both network quality, availability and coverage, we believe the business is well positioned to benefit from the material data opportunity the Nigerian market presents.
We are making good progress towards concluding the IPO process in Nigeria and we remain committed to executing on
this during the current financial year.”