MTN mobile money service MoMo. File picture: Bhekikhaya Mabaso Independent Newspapers
Scancom (MTN Ghana) delivered a 36% year-on-year increase in service revenue in the quarter to end September 30, driven mainly by growth in voice, data and Active Mobile Money (MoMo).
Its mobile subscribers decreased by 9.3% to 25.8 million after being impacted by SIM re-registration, the group said in third quarter results yesterday.
Active data subscribers increased by 2.7% to 14.5 million. MoMo users grew 16.3% to 14.4 million. Earnings before interest, tax, depreciation and amortisation (Ebitda) increased 32.6% to GHS5.4 billion.
MTN Ghana said it would continue to invest to develop its platforms and improve its network and services to unlock value for stakeholders in line with its Ambition 2025 strategy.
“We will also keep exploring efficiency measures, preserving liquidity and take steps to strengthen the balance sheet further against a background of uncertainties within the operating environment,” the company’s directors said.
MTN Ghana maintained its guidance of high-twenties (in percentage terms) growth in service revenue for the full financial year.
It said sustained investments were made in capex over the nine months to support improvements in service quality, and the expansion of network capacity and coverage.
“We continued to improve on investments in technology and quality of service with total capex of GHS2.9bn spent during the nine-month period. As part of the network expansion plan, we rolled out 193 2G, 196 3G and 193 4G sites, reaching a total of 4 455 4G sites nationwide, with 4G coverage at 99.3%,” a statement said.
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