Dire effect of naira’s devaluation shows in MTN’s earnings
Macroeconomic pressures in SA and Ghana — MTN’s second- and third-largest units — were also unfavourable
25 March 2024 - 09:27
MTN reported a sharp decline in earnings for the year ended December, weighed down by weaker currencies, higher inflation, increased costs and consumers who are more stretched, particularly in its three largest markets — Nigeria, SA and Ghana.
Reported headline earnings per share (HEPS) were down 72.3% to 315c, with nonoperational effects having decreased HEPS by 888c. ..
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.