MTN South Africa delivered strong subscriber growth in the third quarter of 2020, propelled higher by an advance in prepaid users. This, coupled with surging demand for data, helped lift revenue and margins.
MTN Nigeria on Wednesday reported a sharp rise in subscriber numbers in the third quarter – up 3.9 million from the second quarter to reach 75 million – while active data subscribers climbed by 1.7 million.
Communications regulator Icasa is putting the cart before the horse in forging ahead with plans to licence access to new spectrum bands before it has concluded an inquiry into the mobile broadband services market.
Cell C has net debt, excluding leases, on its balance sheet (prior to a planned recapitalisation) of almost R10-billion, but it still wants to participate in South Africa’s upcoming spectrum auction.
Cell C has reported an interim net loss after tax for the six months to June 2020 of R7.5-billion, but said this was mainly the result of once-off costs and adjustments and that normalised earnings actually grew by 64%.
Standard Bank Group is planning to scale up some of its operations and further digitise its systems to fend off fintech firms encroaching on its client base.
MTN’s Ghana unit said on Tuesday it was withdrawing a legal challenge it had filed to the supreme court over the market regulator’s move to designate it a significant market power.