MTN released a quarterly update for the period ended 30 September 2020. The group reported an 11.4% increase in group service revenue. The company’s EBITDA grew by 13.9%, with EBITDA margin improving by 1.4% to 43.3% (previously 41.9%). During the quarter, MTN added 12 million subscribers and 5.3 million active data users. The company surpassed the 40 million MoMo (Mobile Money) subscribers mark, adding 3.5 million during the quarter.
The Nigerian business reported service revenue growth of 13.8% and an acceleration in 3Q2020 growth to 16.5% YoY. Voice revenue grew by 4%, with a recovery in the trend to 7% YoY during 3Q2020.
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