MTN reports massive profits

File: An MTN sign at the telecommunications company's head office.

JOHANNESBURG - Telecommunications giant, MTN has reported a strong set of results for the 2020 financial year.

It has added 29-million customers and grown adjusted profits by 52%.

READ: MTN drops data prices


The mobile giant benefitted from a surge in demand for data as work-from-home activity grew.

It's Mobile Money subscriptions have now surged to more than 46-million but the group has opted to hold on to its final dividend as it battles to reduce debt amid uncertainty from COVID-19.

The group has also revealed what it calls an Ambition 2025 strategy.

It will look at structurally separating its infrastructure assets and platforms, such as fintech, to encourage more and partnerships and investments.

Source
eNCA

Paid Content