The emerging-markets telecommunications group revealed the numbers in the results for its Nigerian operation for the nine months to
Cumulative net additions totalled 10.7 million in the nine-month period, marking the first time it has exceeded 10 million additions in an annual cycle with one quarter remaining.
Despite the subscriber growth, MTN Nigeria's operating margins came under pressure with from rising costs impacting its margins and dampening profitability, said outgoing CEO
"Following a decline in voice and an acceleration in data during lockdowns in Q2, we have seen a normalisation of traffic as restrictions have been removed, with a recovery in voice traffic and continued growth in data. This has supported a 13.9% growth in service revenue, with an acceleration of growth to 16.5% in Q3 specifically," Moolman said.
Vanguard
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