In an impressive display of growth and market penetration, MTN Group has announced significant increases in its subscriber base, underlining the company’s robust performance amidst challenging market conditions. The Group’s strategic initiatives and customer-centric approach have borne fruit, as evidenced by the remarkable surge in its active data subscribers and Mobile Money (MoMo) user base.
MTN Group’s active data subscribers witnessed a robust increase of over 9%, reaching a milestone of 150 million users. This growth is particularly noteworthy as it represents half of the total subscriber base, highlighting the growing demand for data services and MTN’s ability to cater to this need effectively. The expansion in data subscribers is a testament to MTN’s quality service offerings and its commitment to enhancing digital connectivity across its markets.
We maintain our overall medium-term guidance framework, however simplifying our objective for fintech,” Mupita said, adding that MTN was encouraged by the outlook for the fintech business, given the solid growth in advanced services. “The partnership with Mastercard positions the business well to scale faster and we are excited about the commercial launches of card issuance, acceptance and remittances across the footprint.
Ralph Mupita, MTN Group President and CEO
In parallel, the Group’s Mobile Money service, MoMo, continues to solidify its position as a key player in the fintech space, with a 5% increase in active users, totaling 72.5 million. This expansion reflects the rising trend towards digital financial solutions and MTN’s successful execution of its fintech strategy, offering convenient and secure financial services to millions.
Overall, MTN Group’s total subscriber count has reached an impressive 295 million across all its services, marking a significant milestone in the company’s journey. This growth not only underscores MTN’s strong market presence but also its ability to adapt and thrive in a dynamic industry landscape.
MTN’s achievements in expanding its subscriber base are a clear indicator of the company’s operational excellence and strategic foresight. As MTN continues to innovate and push the boundaries in telecommunications and fintech, its growing subscriber base stands as a testament to the trust and loyalty it has cultivated among its customers, promising a bright future for the Group in its endeavors to connect and empower communities across its markets.
