MTN Nigeria Communications Plc released its financial results for the nine months ending on September 30, 2024, reflecting both growth in certain areas and significant challenges due to economic and regulatory pressures. The company saw a decrease in its subscriber base, driven by the government-mandated NIN-SIM regulations, though data users grew alongside service revenue. Active mobile money wallets experienced a sharp decline, yet service revenue rose notably, despite a drop in EBITDA and the EBITDA margin. The loss after tax, driven largely by foreign exchange volatility, left earnings per share in negative territory, while free cash flow saw an improvement.
Telecom Operators
Ethio Telecom Launches Historic Public Share Sale to Drive Economic Transformation
Ethio Telecom, one of Africa’s pioneering telecommunications companies, has announced the public sale of 100 million ordinary shares as part of Ethiopia’s ongoing economic reform initiatives. This is the first time in history that the company is offering shares to the public, marking a significant milestone in Ethiopia's efforts to transform its economy and strengthen its capital market.
Safaricom Marks 24 Years, Contributing KES 983 Billion to Kenya's Economy
Safaricom contributed KES 722 billion to the Kenyan economy as it sustained 1,283,329 jobs in the last financial year. This is according to the telco’s 13th Sustainable Business Report, which was launched as it begins its transition to become Africa’s leading purpose-led technology company by 2030.
Telecom Egypt Launches High-Speed Internet Hubs in Cairo and Alexandria
Telecom Egypt and Colt have announced a significant strategic partnership to establish two high-speed internet transit nodes in Cairo and Alexandria. These new nodes will be hosted in Telecom Egypt’s advanced data centers and leverage its expansive international infrastructure, which spans over 60 countries. Additionally, Colt’s extensive IP network will be integrated to provide seamless, high-speed access to the global internet, enhancing the overall connectivity experience.
Vodacom Lesotho Unveils Software Factory Hub to Boost Local Tech Startups
Vodacom Lesotho officially launched its Software Factory Hub, a four-month incubation program for local tech start-ups, in Maseru. The initiative aims to empower Lesotho’s tech talent by equipping start-ups, under five years old, with skills in cybersecurity, software development, and agile methodologies, fostering innovation in a rapidly evolving digital landscape.
Safaricom Expands M-PESA Cross-Border Transfers into Ethiopia
M-PESA Kenya expands its International Money Transfer (IMT) to Ethiopia. Customers will now be able to send money from Kenya to Ethiopia via M-PESA Global.
Ethio Telecom Launches 5G in Bahir Dar, Boosting Connectivity and Growth
Ethio Telecom has officially launched 5G service by setting up 5G mobile stations in various areas of Bahir Dar, including Kebele 4, Tana, Bahir Dar University (Poly), Ethiopian Electric Power Headquarters, and key locations like Deb Anbesa Hotel, Avanti, Jacaranda, and Kuriftu hotels.
MTN Congo Unveils Commercial 5G Services
MTN Congo has officially launched its commercial 5G services, marking a significant leap forward in the nation’s digital transformation journey. This cutting-edge technology is poised to revolutionize the country’s connectivity, unlocking new opportunities for innovation and enhancing digital services across a wide range of sectors, from education and healthcare to business and entertainment.
MTN Nigeria CFO Warns of Investment Risks Amid Pricing Challenges
Reports suggest that Module Kadri, Chief Financial Officer (CFO) of MTN Nigeria, has voiced concerns about potential investment losses in Nigeria's telecommunications sector. Kadri warned that without effective pricing strategies, the industry could face challenges similar to those encountered in the oil sector.
Vodacom Business Drives the Advancement of Smart Cities in South Africa
In its commitment to digitalizing critical enterprise sectors, Vodacom Business is working with local governments to provide technology solutions to help make South African cities smarter. Announcing the partnership, which forms part of a five-year Transversal Contract with the National Treasury, Vodacom Business showcased the significant role digital solutions can play in enabling municipalities to deliver services efficiently and build an inclusive future.