JSE-listed MTN expects to add another 21 million subscribers to its base during this year after growing its subscribers 15.1% to 189.3 million in the year to December.
The group provided the guidance on its net subscriber additions this morning after releasing its results for the year. MTN said revenue grew 10.9%, to R135.1 billion, while earnings before interest, tax, depreciation and ammortisation gained 8.2%, to R57.9 billion.
Nigeria, its largest operation with 47.4 million customers, is expected to add another seven million subscribers during the current year. In the year to December, it gained 5.8 million new customers in a market characterised by heavy competition.
South Africa, MTN's third-largest operation by subscriber size, should see its base growing by another 2.9 million during this year. In the past 12 months, the local operation added 3.4 million subscribers and grew its market share, CEO and president Sifiso Dabengwa said.
MTN also expects to add 3.85 million new subscribers in Iran, which is currently under sanction from the US. Dabengwa says the market, its second biggest by subscribers, is experiencing delays in getting equipment in to upgrade the network due to the sanctions.
Ghana and the Ivory Coast are each expected to add 800 000 subscribers, while Cameroon should grow by a million, Sudan by 1.35 million, and the Ivory Coast by 300 000.
MTN has not provided guidance for growth in Syria, which is currently beset by political unrest. Dabengwa says its network is down about 25% of the time due to the political problems, and MTN is concerned with the safety of its staff.
However, despite the problems, MTN does not plan to pull out of the war-torn country, says Dabengwa. He says it has a duty to its staff and to the people to provide an essential service.
MTN's build, operate, transfer contract with the government comes to an end in the next four years and the company had, before the troubles, been trying to convert it to a full licence.
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