MTN Group, the African telecommunications giant, has reported a strong financial performance for the year ending December 31, 2022.
The company's data revenue rose by 32.2% to R73.7 billion (₦1.8 trillion), while its fintech revenue increased by 14.3% to R17.3 billion (₦437 billion). MTN Group's total subscribers rose by 6% to 289 million, with data subscribers growing by over 12% to 137 million and Mobile Money (MoMo) users up by 21% to 69 million.
MTN Group's return on equity expanded to 23.4%, and the company's dividend increased by 10% to 330 cents per share for the 2022 financial year. MTN Group also reported a 15.3% increase in service revenue to R194 billion and maintained a stable margin on earnings before interest, tax, depreciation and amortisation (EBITDA) of 44%.