With the help of its Nigerian operations, mobile telecommunications company, MTN has inched 8 percent in subscriber base, at the end of first quarter 2009. The company now, has a total subscriber base of 98.2 million from 90.7 million in December 2008. Meanwhile the company’s Nigerian operations, added 12 percent in subscriber base in the last three months, giving it a total of about 25.9 million subscribers.
According to the figures released yesterday by the MTN group in Johannesburg, the company’s “total customers swelled to 98.2 million at the end of the quarter from 90.7 million on Dec. 31 2008. Subscribers increased by 12 percent to 25.9 million in Nigeria, Africa’s most populous country with about 145 million people”.
However, in March this year, the company had forecast an addition of 22.6 million subscribers by the end of this year, predicted 6 million new subscribers from Nigeria and the same number from Iran, as well as about 1.1 million new users from each of Ghana and Sudan.
The company plans to increase capital spending this year to 37.7 billion rand, translating to about $4.5 billion from 28.3 billion rand in 2008.
The breakdown included 12 billion rand for Nigeria, representing a 25 percent increase, and 8.15 billion rand for South Africa, which is a 67 percent jump.
South and East Africa contributed 26 percent of clients, West and Central Africa 45 percent, and the Middle East and North Africa contributed 29 percent. Subscribers increased 2 percent in South Africa during the quarter to 17.4 million.
Blended average revenue per user shrank in each of MTN’’s 21 regions. In South Africa, the number fell 6 percent to 139 rand, and in Nigeria it fell 23 percent to $13.
MTN gained 6.50 rand, or 5.9 percent, to 117.50 rand, giving the company a market value of 220 billion rand.
MTN hits 98.2m subscribers' base
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