More than one million new subscribers joined MTN Cameroon in the first quarter of 2019
The Cameroon telecommunications market leader recorded more than one million new subscribers and a second consecutive quarter of growth at the end of the first quarter of 2019, thanks to a strategy more focused on customer satisfaction and significant improvement in the quality of its network, in a more stable regulatory environment.
MTN Group, Africa’s telecommunications leader with operations in 21 countries around the world, including Cameroon, published its financial results for the first quarter of 2019 in Johannesburg, South Africa, on Thursday 9 May 2019. These results show sustained growth in all segments, with 236.6 million subscribers as of March 31, 2019, in all 21 countries, compared to 233 million at the end of the fourth quarter of 2018.
MTN Group is particularly pleased with the return to growth of its Cameroonian subsidiary. MTN Cameroon achieved an excellent commercial performance in the first quarter of 2019, marked by a strong increase in its customer base to 8.7 million subscribers as of 31 March 2019, that is, more than one million new subscribers recruited in 3 months.
For the first time in four years, the company’s revenue has grown for the second consecutive quarter. Growth was driven by the strong acceleration in Data sales and Mobile Money revenues. In addition, MoMo, MTN Cameroon’s payment method, continues its exponential growth with nearly 500,000 new accounts opened in the first quarter of 2019 and a dynamic distribution network now based on more than 30,000 points of sale across the country.
While strengthening its leadership with a nearly 48% share of the telecommunications market in the country, MTN Cameroon is, therefore, consolidating the recovery of its performance curve that began at the end of 2018. This return to growth is the result of a set of decisive factors, including: 1- a strategy more focused on customer satisfaction, 2- a significant improvement in the quality of the network, certified by the world-renown agency, Ookla, as the fastest network in Cameroon and, 3- a more stable regulatory environment.
While MTN Cameroon and the MTN Group are delighted with this return to growth, the company remains affected by the situation in the North-West and South-West regions.
“We are proud to be back on the growth path and grateful to our customers for their ever-increasing confidence in MTN. Their satisfaction is at the heart of our strategy. We will continue to work hard to make their lives ever brighter with innovative, simple and affordable solutions that meet their communication needs,” commented MTN Cameroon’s Chief Executive Officer, Hendrik Kasteel.