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LequteMan
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Nigeria - MTN Group Ltd.’s in a statement released on Thursday said its subscriber numbers rose at the slowest pace in a year during the first quarter, citing a declining oil price and a weaker economy as the reasons for the setback, Bloomberg reports.
MTN's customer base increased by 1.8 percent to 227.5 million across 22 countries in the three months through March, . That’s the slowest pace since a 1.1 percent gain in the first quarter of 2014.
According to MTN's Chief Executive Officer Sifiso Dabengwa, Africa's largest wireless carrier was “impacted by a weaker macro-economic environment following the reduction in the price of oil in 2014 and continued price competition,”
MTN Nigeria showed “improved subscriber growth trends although revenue and minutes growth remains a challenge," he said.
MTN has been cutting costs and exploring potential acquisitions as revenue shrinks in its home market of South Africa, where it trails crosstown rival Vodacom Group Ltd. in terms of customer numbers. The company is trying to boost data revenue amid price competition and regulatory pressures.
#Nigeria #MTN #Oil
MTN's customer base increased by 1.8 percent to 227.5 million across 22 countries in the three months through March, . That’s the slowest pace since a 1.1 percent gain in the first quarter of 2014.
According to MTN's Chief Executive Officer Sifiso Dabengwa, Africa's largest wireless carrier was “impacted by a weaker macro-economic environment following the reduction in the price of oil in 2014 and continued price competition,”
MTN Nigeria showed “improved subscriber growth trends although revenue and minutes growth remains a challenge," he said.
MTN has been cutting costs and exploring potential acquisitions as revenue shrinks in its home market of South Africa, where it trails crosstown rival Vodacom Group Ltd. in terms of customer numbers. The company is trying to boost data revenue amid price competition and regulatory pressures.
#Nigeria #MTN #Oil