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MTN Q3 SERVICE REVENUE UP 7.6%

02/11/2020 08:15:00 Ashmond Nzima

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MBABANE – MTN Eswatini has realised increased service revenue of up to E105 million during the period ending September 2020.

This is an increment of 7.6 per cent. This is as per the MTN Group results shared in the quarterly update. Service revenue is the income a company generates from providing a service. The amount is displayed at the top of an income statement and is added to the revenue from product earnings to show a company’s total revenue during a specific time period. The results which were released this past Friday are presented in line with the group’s operational structure. This is South Africa, Nigeria, the Southern and Eastern-Africa and Ghana (SEAGHA) region, the Western and Central Africa (WECA) region and the Middle Eastern and Northern Africa (MENA) region and their respective underlying operations.

The SEAGHA region includes Ghana, Uganda, Zambia, Rwanda, South Sudan, Botswana (joint venture-equity accounted), Eswatini (joint venture-equity accounted) and Business Group.
According to the quarterly report, the SEAGHA region delivered another solid performance, navigating the challenging trading conditions brought about by COVID-19 and aided by the revival in some economic activity into quarter three as lockdown restrictions were eased.

Recorded

“SEAGHA recorded a strong increase in service revenue of 19.2 per cent, with all operating companies improving in quarter three to drive aggregate regional growth of 19.8 per cent year-on-year. “The region increased subscribers by 3.8 million to 55.1 million,” reads the posted information in part. MTN Corporate Affairs Manager Mandla Luphondvo said only the Group could comment on the results but confirmed seeing them. Group president and CEO Ralph Mupita said as the COVID-19 pandemic continued to impact lives and livelihoods across their markets, the group demonstrated strong operational execution and resilience during the period under review.

“Although trading conditions remain challenging, we delivered a solid performance in Q3 2020, during which the positive momentum achieved in key traffic and revenue trends towards the end of H1 2020 was sustained. We continued to drive good growth in our subscriber base, enabled by strong commercial execution across our markets. In the quarter we added 12 million subscribers and 5.3 million active data users. We reached a significant milestone in our goal to enable greater financial inclusion by surpassing the 40 million (Mobile Money) MoMo subscribers mark, an addition of 3.5 million in the quarter,” Mupita was quoted saying.