MTN Uganda hits 10.4 million subscriber base, denoting strong annual results for year 2014

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MTN Group Results

MTN Group Revenue grew by 6.4% in the year. This was largely the result of an increase of 12, 1% in MTN Nigeria’s revenue and a decline of 3, 9% in MTN South Africa’s revenue. Data revenue increased by 33, 2% in the year, to contribute

18, 7% to total revenue at year end.

Announcing the results and achievements, the MTN Group President and CEO, Sifiso Dabengwa, attributed this success to non-voice revenue, driven by various data initiatives, including the Mobile Money offering, across key markets. “MTN made good progress in transforming our operating model, particularly in reducing costs and monetizing assets”. The Group faced a number of challenges, including aggressive price competition, increased regulatory requirements and pressure on consumer expenditure. The sharp decline in the oil price in the second half of the year had a marked impact on the economies and exchange rates of a number of African and Middle Eastern countries” he said.

MTN Uganda Results

MTN Uganda registered a positive performance for the year ending 31 December 2014, increasing its subscriber base by 18% to 10.4 million. This increase was driven by a growth in the uptake of bundled voice products, improved 3G coverage and an increased take up of MTN Mobile Money.

Total revenue increased by 6, 8%, supported by a 36, 6% increase in data revenue. By year end, data contributed 9% to total revenue.

MTN Mobile Money continued to perform well and recorded a 40, 9% increase in registered subscribers to 7, 3 million. Usage was stimulated by a wider mobile payment product range and a new enhanced technology platform.

MTN Uganda’s EBITDA margin increased by 3, 3 percentage points to 39, 2% thanks to strong cost control and improved revenue performance.

Capex in the year amounted to 143 billion shillings, with 157 new 2G sites and 140 co-located 3G sites rolled out, improving quality and capacity on the network.

Commenting on the results, MTN Uganda CEO Brian Gouldie said, “This performance was achieved as a result of a key focus on strategic elements of our business; in particular our new Mobile Money upgrade, stabilisation of our Data platform and the launch of new and exciting voice propositions which will remain the cornerstone of our revenue. We remain the leading telecommunications operator in Uganda and the extent of Capex investment of 143bn shillings is testimony to that. Our quality of service was the most improved in the industry which has supported our 6.8% revenue growth”.

 “I would like to congratulate the MTN Uganda staff for their contribution and support in achieving these positive results. At MTN we recognize our staff as a key asset in enabling this success. As we move into 2015, our focus will primarily be on the continued emphasis on Customer Experience as well as ensuring consistent investment in key infrastructure to support the continued growth of MTN in Uganda,” Gouldie concluded.

 

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