MTN strengthens its leadership in the Cameroon market
With nearly 8 million subscribers, representing 47.20% market share and a turnover of FCFA 212 billion, MTN Cameroon ended 2018 on a positive note, with strong growth in the fourth quarter of the year.
MTN Group, Africa’s leading telecommunications company with operations in 21 countries around the world, including Cameroon, published its consolidated financial results for 2018 on Thursday, 07 March 2019 in Johannesburg, South Africa. The results were driven notably by strong growth in the number of subscribers, which stood at 233 million on 31 December 2018 in the 21 countries, compared with 217 million in 2017.
Encouraging commercial performance
In Cameroon, after a particularly difficult 2017, MTN began to improve its performance curve in 2018. If the turnover impacted by the crisis in the North-West and South-West regions is consolidated at FCFA 212 billion, MTN Cameroon achieved a very encouraging commercial performance in 2018.
Notably, the company recorded 11.7% growth in its subscriber base, which stood at about 8 million subscribers on 31 December 2018. MTN Cameroon also achieved a sustained performance on new revenue streams, including a strong increase in Data revenue and an exceptional 170.2% growth in Mobile Money revenue, with the number of subscribers consolidated at close to 5 million on 31 December 2018.
With nearly 8 million subscribers, representing 47.20% market share and a turnover of FCFA 212 billion, MTN is strengthening its leadership in the telecommunications market in Cameroon. The company looks to the future with optimism, driven by the exceptional performance recorded at the end of the year.
Indeed, in the fourth quarter of 2018 alone, MTN Cameroon was able to recruit approximately 800,000 new subscribers and recorded a close to 2% increase in turnover over the same period, being its best quarterly performance in the last four years.
Commenting on the company’s results for 2018, the Chief Executive Officer, Hendrik Kasteel said, “MTN Cameroon is back. Bold steps were taken last year to get our company back on the growth path. These measures are beginning to yield positive results. We have also begun to reap the first benefits of MTN’s investments of roughly FCFA 300 billion over the past four years to better serve our customers and provide them with the fastest network in the country, a network that meets their needs.”