MTN Nigeria Posts Latest Results, Sees Massive Fintech Boom -MTN Nigeria has today announced its unaudited results for the half-year ended 30 June 2022. The company, an arm of MTN Group, considered... -
Across the board, MTN Nigeria reported positive results with a 7.6% increase in mobile subscribers to an enormous 74.1-million, adding 5.7-million in the quarter alone. Active data users also increased by 13.2% to 36.8-million, with the company taking on an additional 2.5-million active users in the quarter.
He says that the Russian invasion of Ukraine, as well as China’s implementation of a “zero-COVID” policy had put a strain on global supply chains for the company. He said that MTN Nigeria was forced to accelerate capital expenditure for network expansion in order to mitigate these supply chain issues.
“As at the end of June 2022, we recorded 4.2 million registered MoMo wallets of which 2.4 million are active, generating MoMo transaction volume of approximately 7 million within six weeks of operations.”Toriola says the company is currently on track for the deployment of 5G technologies in Nigeria by Q3 2022, while it continues to accelerate the rollout of 4G network deployment in the country . It recently acquired 100Mhz in the 3.5Ghz spectrum band from the Nigerian Communications Commission .
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