MTN Group saw its total subscriber numbers climb 2.2% in 2024, to 290.9 million, the company revealed in its latest annual report
Active data subscribers also climbed 7.7% to 157.8 million, it added, while data traffic was up by 32.6% to 19,459 petabytes.
In his opening comments to the report, Ralph Mupita, MTN’s president and CEO, called it a “solid commercial performance” amid a challenging global geopolitical landscape.
“In terms of our commercial performance, our results were supported by an increase in the subscriber base to 291 million, a 6.2 million net addition in customers, excluding the markets we exited during the year,” he said.
MTN currently operates in 16 markets, following various international withdrawals last year, including a departure from Afghanistan.
The company also reported encouraging news in terms of its data services, an area in which it sees great potential going forward.
“Our ongoing investments enabled us to capture the ongoing structural demand for our data and fintech services in our markets, with traffic up by 37.3% (excluding JVs) and fintech transaction volumes up 15.3%,” said Mupita.
“Our prospects and investment case are underpinned by the structural demand we see in data and fintech.”
Produced under the theme of ‘Accelerating Africa’s digital future’, MTN also published various other reports covering areas such as ESG and transparency.
“Committed to operating responsibly and ethically, in 2024 MTN remained focused on executing on our strategic intent of leading digital solutions for Africa’s progress, despite the global uncertainties,” said Mupita.
The reports also spell out how the rapid expansion of AI presents new ethical risks, prompting MTN to develop a Responsible AI Policy to uphold digital rights and data privacy.
“As a business, we remain resolute in our commitment to accelerating Africa’s digital future and will maintain the focus on operational excellence and strategic execution to capture the exciting growth opportunities in our footprint.”
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MTN sees subscriber numbers climb 2.2%
MTN's subscribers are on the rise (Image source: Adobe Stock).
