MTN Group announced its plans to increase subscribers base from eight to nine million by end of 2016, despite the current challenges. The company expect an increase from South Africa, Iran, Ghana and Uganda.
About three months ago, MTN grew its Nigerian subscriber base by an additional 1.5 million to a total of 60.5 million subscribers.
MTN group reported a 0.9% increase in subscriber numbers to 234.7-million during the three months to September across its 22 operations. Voice and data traffic rose 1.8% and 142% respectively year on year. MTN SA reported a marginal decline of 0.5% to 29.7-million.
MTN group had established a dedicated transformation office focusing initially on SA and Nigeria to maximise revenue growth and ensure operational efficiencies. It had set hard targets for the next 12, 18 and 24 months.
The executive chairman is clearly making solid structural changes to position the business well for a turnaround. This week, the company announced that its new CEO, Rob Shuter, will be starting his job three months sooner as the company suspends dividends in Nigeria amid allegations it moved as much as $14 billion out of the country illegally.
Shuter is a former Vodafone European boss and was due to start in July next year.