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MTN data users up by eight per cent, service revenue hits N747.3 billion

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Karl Toriola,MTN

MTN grew its active data users by eight per cent, bringing the number to 44.5 million users in the first quarter (Q1). Its active mobile

MTN grew its active data users by eight per cent, bringing the number to 44.5 million users in the first quarter . Its active mobile money wallets increased to 4.8 million, indicating a growth of 48.7 per cent, compared to Q1 2023’s 3.2 million. MTN grew its active data users by eight per cent, bringing the number to 44.5 million users in the first quarter . Its active mobile money wallets increased to 4.8 million, indicating a growth of 48.7 per cent, compared to Q1 2023’s 3.2 million.

According to MTN, this represents a 0.7 percent growth compared with N22.7 billion recorded in the same period last year. MTN noted that its fintech revenue was impacted by industry-wide exercises of linking NIN with mobile numbers and KYC validation. “We ended the quarter with 232.3k MoMo agents, which includes OTC agents, reflecting a decline of 94.4k in the period. Excluding OTC transactions, MoMo agents were 189.6k. We added more than 75k merchants in Q1, bringing the total number of merchants within our ecosystem to over 400k.”

Except something drastic is done by the Nigerian Communications Commission to rally industry stakeholders to develop strategies to actively support telecoms sector growth, the Commission’s N549 billion revenue targets for the year may be unrealisable.MTN grew its active data users by eight per cent, bringing the number to 44.5 million users in the first quarter . Its active mobile money wallets increased to 4.8 million, indicating a growth of 48.7 per cent, compared to Q1 2023’s 3.2 million.

Karl Toriola MTN

 

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