MTN Group has published its annual results for 2021, showing a substantial increase in service revenue and subscribers in South Africa.
MTN South Africa reported growth in service revenue of 6.5% from R37.024 billion to R39.446 billion thanks to healthy performance in the prepaid, postpaid, enterprise, and wholesale businesses.
“This performance was achieved in a challenging macroeconomic and consumer backdrop and increasing unemployment rates in industries such as hospitality and tourism,” MTN stated.
“MTN SA was also impacted by shifts in customer spending patterns as lockdown restrictions abated and the movement of people increased. This intensified the competition for share of the consumer’s wallet.”
The operator’s subscribers increased by 3 million to 35 million during the year, which MTN said was an indication that churn had stabilised.
2.4 million of the new customers were on prepaid packages, while the contract base increased by 456,000 subscribers.
MTN South…