Tag Archives: Revenue

MTN Group has announced robust performance in its data and fintech services for the first half of 2024, with revenue soaring by 21% and 27% respectively. The telecom giant also expanded its subscriber base to 288 million, driven by a 9% increase in active data users. This growth underscores the …

…as Active Data Subscribers Rise by 9.2% YoY MTN Group has reported a slight increase in its subscriber base, reaching 288 million customers across 18 markets by the end of June 2024, representing a 0.8% year-on-year (YoY) growth. This was disclosed by the telecom group in a report seen by …

The Telecommunications giant, MTN Nigeria, has reported a staggering 112% increase in network operating costs for the first half of 2023. The company’s expenses ballooned to N586.8 billion, up from N277 billion in the same period last year. MTN Nigeria also reported a loss of N519.1 billion for the first …

As online transactions increase year-on-year, the need for businesses to retain customers, reduce cart abandonment and grow their revenue becomes paramount. One solution for businesses looking to leverage payment to attract and retain customers is payment integration on Wix, a robust platform with a comprehensive suite of tools designed to …

Flour Mills of Nigeria Plc (FMN), a leading light in Nigeria’s food and agro-allied sector, has defied challenging economic conditions to achieve phenomenal growth in its financial year 2024 (FY2024). The company announced a record-breaking 49% year-on-year increase in revenue, reaching a staggering N2.3 trillion by the end of March …

Airtel Africa has recorded a revenue of $3.861 billion in its results for nine-month period ended December 31, 2023. Although, the telco recorded total customer base growth of 9.1 per cent to 151.2 million, its revenue for the period represents a 1.4% year-on-year decline from the $3.914 billion posted in …

MTN Group has reported a strong 2022 financial performance, including a 15.3% increase in service revenue to N4.9 Trillion (R194 billion) and maintained a stable margin on earnings before interest, tax, depreciation and amortisation (EBITDA) of 44%. In the financial statement sighted by Business Remarks, in the year to 31 …

Africa’s e-commerce group, Jumia, has slashed 20% of its workforce in a layoff exercise that saw the exit of 900 workers from the company. The company disclosed this today in its Q4 2022 financial results, Jumia, which first hinted at the possibility of a head cut in November last year as part …

Owing to the Federal Government calls deactivation order for over 70 million unlinked Subscriber Identification Module (SIM) lines, telecoms operators in the country have continued to count revenue loss in billions. Recall that the Federal Government had directed telecommunications operators in the country to bar outgoing calls from all unlinked SIMs …

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa,  reported in its results for the quarter ended 30 June 2021 that its customer base grew by 8.4% to 120.8 million (from 111.5 million in H1 2020), with increased penetration across …