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MTN Nigeria has acquired additional 10MHz spectrum in the 800MHz band from Intercellular Nigeria Limited.
The Nigerian Communications Commission (NCC) has already approved the transaction and assigned the frequency. According to the telco, this acquisition will significantly improve its customer experience.
“Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country,” says Karl Toriola, CEO of MTN Nigeria.
“The added resources will also greatly impact our customers’ experience providing even better internet connectivity. It is our goal to keep finding ways to grant everyone access to modern connected life.”
MTN added 29 million new subscribers in 2020, to reach a total of 280 million across 21 markets. The group also reported a 52% increase in adjusted headline earnings per share, a four percentage point increase in return on equity to 17% and a more than doubling in operating cashflow to R28,3 billion.
“We continued to perform favourably against our medium-term targets,” says MTN President and CEO, Ralph Mupita. “In constant currency terms, service revenue grew 11,9% to R170 billion and EBITDA increased by 13,4%, maintaining our strong operating leverage. The Group’s EBITDA margin improved by 0,9pp to 42,7%, benefiting from the execution of our expense efficiency programme.”
The solid results were supported by growth in MTN’s larger operations as well as a broad-based improvement across all regions. As well as managing the risks of COVID-19, the telco is reportedly alive to the opportunities presented by the pandemic – particularly the accelerated need for digitalisation evidenced in the greater adoption and usage of MTN services.
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