MTN Reduces Subscriber Forecast as Nigerian Customer Numbers Nose-dive


South African giant telecommunications firm, MTN, has cut its full-year forecast for subscriber numbers after more than five million Nigerian customers were disconnected.

The subscribers were disconnected following a review into how they were able to register for phone contracts.

The telco will add 14.8 million net subscribers this year, compared with a previous forecast of 16.75 million, Johannesburg-based MTN said in a statement, on Thursday, October 22.

According to Bloomberg, the network operator customer base surged 0.9 per cent to 233 million in the three months through September compared with the previous quarter.

MTN, which operates in more than 20 countries across the Middle East and Africa, had 5.1 million subscribers cut off in Nigeria, its biggest market, at the end of August following checks on personal documents.

About 3.4 million of the customers have been reconnected, the company said.

MTN shares gained 2.4 per cent to 186.45 rand as of 3:31 p.m. in Johannesburg, valuing the company at 345 billion rand ($25.2 billion).

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Comments (3)

  1. […] Nigeria’s largest mobile network operator, MTN Nigeria, has been hit with a record N1.04 trillion fine by the Nigerian Communications Commission (NCC) over its failure to disconnect subscribers with unregistered and incomplete subscriber identification modules (SIM) card…. […]

  2. […] Nigerian Communications Commission, NCC, has fined MTN Nigeria, the sum of N1.04 trillion ($5.2bn) for failing to disconnect subscribers with unregistered SIM […]

  3. […] largest telecommunications operator, MTN Nigeria has reconnected 3.4 million subscribers that were disconnected in August following directive of the […]

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