MTN Group achieved a solid performance despite challenging operating environment.
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GUEST – Tsholofelo Molefe – MTN Group CFO
MTN saw only a slight increase in service revenue in the first half of 2023 in South Africa compared to the same period last year, primarily due to intensified load-shedding. The telecoms operator’s interim results for its 2023 financial year showed that between January and June 2023, South African service revenue improved from R20.05 billion to R20.43 billion, a roughly 1.9% gain. However, earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined by 6.8% in South Africa — from roughly R9.84 billion to R9.17 billion.
MTN saw only a slight increase in service revenue in the first half of 2023 in South Africa compared to the same period last year, primarily due to intensified load-shedding. The telecoms operator’s interim results for its 2023 financial year showed that between January and June 2023, South African service revenue improved from R20.05 billion to R20.43 billion, a roughly 1.9% gain. However, earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined by 6.8% in South Africa — from roughly R9.84 billion to R9.17 billion.
