MTN MoMo subscribers hit 15m in first quarter of 2020, delivers GHS349m profit

Leading telecommunication firm, MTN Ghana registered an increase of 6.9% in mobile money subscribers to 15.5 million in the first quarter of 2020 alone

However, active MoMo subscribers went up by 2.1% to 9.3 million.

According to its first quarter results, the telecom giant, mobile subscribers also increased by 6.2% to 23.9 million, whilst data subscribers increased by 5.4% to 21.2 million.

Active data subscribers also up by 6.1% to 8.6 million.

The company’s profit also went up by 62.1% to GHS349 million for the first three months of 2020.

For the outlook, the South Africa headquartered firm said market conditions are expected to be more challenging for the remainder of the financial year as the extent and economic impact of the COVID-19 pandemic are uncertain.

As such,” we are leaning toward a more measured outlook in the near-term”, the company said.

“We invested GHS215.1 million in core capex (capital expenditure) as we continued to improve our network”, the statement added.

In support of government’s efforts in the fight against COVID-19, MTN Ghana said through the MTN Ghana Foundation  it donated GH¢5 million for the procurement of medical supplies.

These include personal protective equipment (PPE) and other essentials to support frontline medical staff, adding “We also increased our focus on four key areas: our people, our customers, our network and our efficiency.”

Source:MyNewsGh.com/Stephen Zoure/2020

The post MTN MoMo subscribers hit 15m in first quarter of 2020, delivers GHS349m profit appeared first on MyNewsGh.




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