Telecommunication giant, MTN Nigeria, has deactivated 600,000 active subscribers in compliance with the directive of the Nigerian Communications Commission to deactivate partially registered SIM cards.
According to the Q3 unaudited financial report ended September 30, 2019, MTN had recorded 61.6 million subscribers at the end of the third quarter, adding 100,000 users quarter on quarter.
Service revenue also increased by 12.1 per cent to N854.9bn, largely driven by increases of 10.1 per cent and 34.9 per cent, respectively in voice and data revenue, while earnings per share rose by 29 per cent to N7.29 and capex increased by 39.5 per cent to N154.1bn.
The report further stated that MTN’s fintech business gained traction with 21.7 per cent year-on-year growth in revenue, driven by increased adoption of the Xtratime service, allowing subscribers to borrow airtime. Also, it launched its super-agent services in August 2019 and recorded 66,000 registered agents.
On the whole, the Chief Executive Officer, MTN Nigeria, Ferdi Moolman, said it added 1.6 million active data subscribers and 4G population coverage reached over 35 per cent in 64 cities.
