MTN disruptions will taper off, says Phuthuma Nhleko
First full-year loss reported, mainly because of multibillion-rand Nigerian fine
MTN group is showing signs of a recovery following one of the most difficult years in its 22-year history. The company reported its first full-year loss as a result of a number of one-off factors, chief of which was the multibillion-rand Nigerian fine. For the 2017 financial year, it has budgeted R35bn for capital expenditure as it moves to claw back its market share and retain existing customers in many of its key markets. Of that, R11.5bn will be invested in SA, where the group is aggressively upgrading its network to surpass that of its big rival, Vodacom. The group is also targeting 8.2-million new subscribers by the end of 2017. Executive chairman Phuthuma Nhleko has said recent disruptions in some of MTN’s markets will taper off. "We have no doubt we are still well positioned [in many markets]. The fact [is], those countries are very much still in the primary stage of demand," he said. MTN had implemented a transformation initiative, Ignite, to accelerate revenue growth throug...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.