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Mobile money boosts MTN’s 2018 first quarter growth

Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante
Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante

MTN Ghana has recorded a 29.3 % increase in revenue for the first quarter of 2018.

This growth has largely been driven by increased data and mobile money subscription for the telecoms giant.

For the first three months of this year, MTN recorded more than fifty percent rise in revenue from the sale of data.

In addition, the telecom company’s mobile money services contributed 15 percent of total revenue for the period.

According to MTN, it managed to bring an additional 484,000 subscribers between January and March this year.

This means the total number of subscribers for the MTN Mobile money has reached 16.2 million as at March.

Similarly, active mobile money subscribers increased to 7.4 million while active data subscribers increased to 6.6 million.

Commenting on the performance, the Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante said the outfit will work to sustain the growth.

“I am pleased with our performance in the first quarter and look forward to the listing of MTN Ghana on the GSE.”

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Citi Business News