Telecom
MTN Reports Solid First Half Financial Results

MTN Group has announced an encouraging set of results for the six months ended 30 June 2019 in the context of difficult trading conditions across its major markets.
Commenting on the results, Rob Shuter, MTN Group President and CEO, said: “We had a good first half, reporting solid financial results, good commercial momentum and encouraging strategic progress.
“We saw growth of 12% in adjusted headline earnings per share, which is the first time that we have delivered growth in this measure in recent years.
“Our service revenue grew just below 10% and EBITDA just above 10%, both on a constant currency basis.
“Our holding company leverage remains stable at 2.3x, well within our guidance range of 2 to 2.5x. And, as we grew revenue and carefully managed our investment programme, we saw capex intensity drop further, to 16,9%.
“Commercially, we had strong subscriber growth of 7,7 million in the first six months of the year to reach a total of 240 million subscribers.
“The number of active data users grew by 3,5 million to 82 million and our 30-day active Mobile Money users grew by 2,4 million to 30 million.
“Our continued focus on the customer experience has seen us record brand NPSˆ leadership across more than 50% of the portfolio, with 12 markets now leading.
“That contributed to MTN being named the most valuable South African brand in the Brand Finance South Africa 50 report and the most admired African brand by Brand Africa 100.
“During the period we had some landmark events. We successfully completed the listing of MTN Nigeria on the Nigerian Stock Exchange and our e-commerce joint venture Jumia listed on the New York Stock Exchange.
“Within three months of announcing our asset realisation programme, which is targeting at least R15 billion over the next few years, we delivered R2,1 billion in proceeds.
“Our advanced instant messaging platform, Ayoba, is now live in three of our West African markets and has more than 300 000 active monthly users.
“We are very pleased with the formal approval of our super-agent licence in Nigeria, which clears the way for the launch of phase 1 of our Nigeria fintech business while we await a banking licence.”
The company further stated that in South Africa, they contended with a weak macroeconomic environment as well as the introduction of new end-user requirements and the repricing of out-of-bundle data rates.
In Nigeria, economic activity was muted in the time of presidential elections and prior to the formation of the cabinet. In Iran, the rial weakened sharply after the re-imposition of US sanctions.
Speaking on the Financial performance, the group stated that notwithstanding the environment, in constant currency terms, service revenue grew by 9,7% to R67,9 billion and earnings before interest, taxation, depreciation and amortisation (EBITDA) expanded by 10,2% to R31,2 billion.
The holding company net debt to EBITDA ratio remained stable at 2.3x, which is well within the group’s guidance range of 2.0 to 2.5x, and capex intensity dropped further to 16.9%, indicating greater efficiency in deploying assets.
On what the future holds, Shuter said: “MTN is well positioned to grow by leveraging our scale and enhancing our competitive position.
“In the second half, in South Africa we will focus on the continued turnaround of the enterprise business, the recovery of prepaid and the launch of Mobile Money.
“In Nigeria, we will focus on the further rollout of 4G coverage, the launch of Ayoba and Music Time! as well as accelerating our fintech ambitions by fully leveraging our extensive distribution network to offer a range of transfer and payment services to our GSM customer base.
“Across the rest of the portfolio we have six focus areas. These are: the continued turnaround of our operations in the West and Central Africa region; the resolution of some of the more complicated regulatory situations; the rollout of MusicTime! and Ayoba across the group; the asset realisation programme; launch of our pan-African MTN 4 Good campaign and delivering on our medium-term targets.”
Telecom
Tariff Adjustment Attracts Over $1 billion Investment in Telecom infrastructure

Dr. Aminu Maida, Executive Vice Chairman, the Nigerian Communications Commission (NCC) has said that the new pricing regime in the sector has already attracted over $1 billion in fresh infrastructure investments this year, few months after it took effect.
He stated this yesterday during an interactive session with journalists in Lagos. According to him, the policy introduced in February gave mobile network operators (MNOs) the green light to adjust tariffs by up to 50% after nearly a decade of stagnant pricing.
“This act alone, has allowed investments to flow in. We will be revealing more specific figures in the coming weeks after verification, but we are talking about over a billion dollars’ worth of investment in 2025 alone,” he said.
Maida explained that the new pricing regime has reversed years of under-investment that slowed network expansion and weakened service quality. He pointed out that before now, the value chain was lopsided—tower companies could adjust prices annually for inflation and FX rates, but MNOs were stuck with fixed tariffs.
“This is an industry that requires continuous investment. The world is moving ahead, and if we do not create the right conditions, we will be left behind,” he warned.
The decision, he added, aligns with the guiding principles of the 2000 Telecom Policy and the 2003 Communications Act, which favour market-driven pricing while ensuring healthy competition and consumer protection.
According to Maida, the benefits of the policy are already visible. Equipment ordered by operators has been arriving since June, with network expansion and upgrade works in progress nationwide.
“We are closely tracking the rollout. We hold weekly calls with operators to monitor site builds, upgrades, and to step in when they face challenges with authorities,” he said.
The EVC of NCC believes these investments will help boost capacity, improve service quality, and keep Nigeria competitive in the global telecom arena.
While the investment news is positive, Maida didn’t shy away from highlighting the operational cost pressures confronting operators.
He said the sector burns through over 40 million litres of diesel monthly, most of it imported, to power base stations.
On top of that, the industry is heavily dependent on FX for all network hardware and software imports, as there’s no local manufacturing of major telecom equipment.
“There is nothing you need to build or upgrade a network today in Nigeria that you can buy locally,” Maida stated.
Telecom
ATU, AFRINIC Urge Governments, Regulators to Develop Internet Resilience Framework

As Africa continues to face internet disruptions, telecom leaders have urged governments and regulators to embrace and implement a Model Framework for Building Regional Internet Resilience.
The African Telecommunications Union (ATU), Internet Society, and African Network Information Centre (AFRINIC) have all endorsed the framework.
The framework organises Africa’s internet resilience challenge around three interdependent focus areas: networks and internet service providers (ISPs), critical infrastructure such as power grids and cables, and market conditions that influence affordability and demand, according to the organisations in a joint statement.
Once implemented, entities or operators responsible for an important part of a country’s internet ecosystem, such as electricity utilities, mobile network operators, ISPs, internet exchange points, or a country-code top-level domain registry, must develop a resilience plan within one year of the framework’s official adoption.
The statement also mentions several past disruptions that hampered communication, such as the West Africa Cable System failure in March 2024, which cut off 13 countries for days.
They went on to explain that the plan must be evaluated and updated on an annual basis and be compatible with the entity or operator’s continuity and reconstitution plans.
It (framework) should also specify how the organisation intends to incorporate the resilience features of redundancy, resourcefulness, rapid recovery—all of which are critical components of achieving overall robustness—into its operations.
ATU has warned that every blackout is a flashing red warning, and that the framework would act as an insurance policy against outages.
“Connectivity remains Africa’s nervous system and when it stutters, schools, hospitals and markets stutter too. This framework is our insurance policy against digital darkness”, said John Omo, secretary general of ATU.
Arthur Carindal, AFRINIC’s head of stakeholder engagement, commended the institutions for their coordinated efforts.
He said: “It is a great honour for AFRINIC to collaborate with ATU and ISOC in transformative initiative enabling all stakeholders to participate in developing Africa’s internet resilience model framework, which highlights key policy recommendations and best practices for strengthening internet infrastructure in Africa.”
Telecom
NCC Rallies Stakeholder Support to Protect Telecom Infrastructure

Nigerian Communications Commission (NCC) has reiterated its commitment to the full operationalisation of President Bola Ahmed Tinubu’s Executive Order on Critical National Information Infrastructure (CNII), which designates telecommunications facilities as critical national assets deserving optimal protection.
This comes on the heels of a successful mediation led by the Office of the National Security Adviser (ONSA), in collaboration with the Commission, which resulted in the suspension of a planned strike by the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA).
The strike, if carried out, would have disrupted the supply of diesel to telecommunications sites nationwide, severely affecting network operators’ ability to power their diesel-driven generators and maintain uninterrupted connectivity.
In the days leading up to the resolution, the ONSA, under the leadership of the National Security Adviser (NSA), Mallam Nuhu Ribadu, held strategic engagements with NOGASA’s leadership, with the Commission providing technical and regulatory guidance to highlight the potential implications of service disruptions on national security, the economy, and everyday life.
The discussions culminated in an agreement to call off the industrial action, averting what could have been a nationwide disruption of telecom services.
“Telecommunications infrastructure is the backbone of our connectivity and digital economy. Any disruption, whether through vandalism, accidental damage during construction work, theft of equipment, denial of access to maintenance teams, or interruptions in the supply of essential operational materials, has far-reaching implications for service delivery, economic stability, and national security,” the NSA said.
The Commission expressed appreciation to the ONSA for its leadership and dedication to protecting national assets and commended the maturity and understanding demonstrated by relevant stakeholders in recognising the national importance of telecommunications services.
Commenting on the development, the Executive Vice Chairman/Chief Executive Officer of the Commission, Dr. Aminu Maida, stated: “We will continue to enforce strict compliance by our licensees with technical standards for the deployment and maintenance of telecommunications infrastructure, while working closely with relevant stakeholders to strengthen awareness and cooperation on their protection.
“We also recognise mediation as an effective tool for building consensus among stakeholders. This resolution underscores the importance of dialogue in preventing avoidable service disruptions. Ultimately, we call on all Nigerians to regard telecom infrastructure as a shared national asset, one that underpins our ability to connect with loved ones, transact businesses, access healthcare, pursue education, and participate in the global digital economy.”
The Commission reaffirmed that it would continue to coordinate with security agencies, industry stakeholders, and the public to ensure that Nigeria’s telecommunications infrastructure remains protected, resilient, and reliable for all.
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