MTN Nigeria on Wednesday (28 October) reported that its data traffic soared 135.6% year-on-year as more users worked the internet during the Covid-19 pandemic.
“Many share a common distressing story of health, social and financial consequences of the pandemic,” said outgoing MTN Nigeria chief executive officer, Ferdi Moolman as the company published its results for the nine months ended September 2020.
“It also enables the accelerated need for digitalisation where more people work from home with increasing reliance on a ubiquitous and effective digital network,” he said
Moolman said there was a drop in voice traffic while data usage increased during the lockdown in Q2. Voice traffic has since picked up again while data traffic continued to grow. This resulted in a 13.9% growth in service revenue.
Data revenue makes up 24.8% of revenue, the group said.
- Mobile subscribers increased by 3.9 million to 75 million;
- Active data users increased by 1.7 million to 30.7 million;
- Service revenue increased by 13.9% to NGN973.8 billion (R41.6 billion);
- Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 9.1% to N497.9 billion (R21.3 billion);
- Earnings per share (EPS) declined by 3.3% to N7.1 kobo (4 cents per share)
The MTN Group launched MTN in 2001 and is part of which operates in 21 countries in Africa and the Middle East.
Revenue from digital and fintech services climbed 114.3% and 28.3% respectively, while voice revenue growth was 4.2%.
MTN said earlier this week that Karl Toriola has been appointed as the new CEO of MTN Nigeria and will replace Moolman on 1 March 2021. Toriola is currently the VP of West and Central Africa (WECA) for the MTN Group. Moolman has been appointed group chief risk officer of the MTN.