Monday, 26 October 2015

See How MTN Nigeria Lost over 5 Million Subscribers

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Africa’s largest mobile phone operator, MTN has lost more than 5 million subscribers in Nigeria. The Telecom giant reported a slowdown in quarterly subscriber growth on Thursday, caused by stiff competition and tougher regulation in the Nigerian market.

MTN said users increased 0.9 per cent in the three months to end-September, a slowdown from 2 per cent growth the same time a year ago.

According to Chief Executive Sifiso Dabengwa, the company’s subscriber base in Nigeria dropped marginally after over 5 million subscribers disconnected from the network having failed to register their SIM cards.

Dabengwa said: “Aggressive price competition, weakening macroeconomic conditions in most of our markets and unfavourable exchange rate movements continued to impact financial performance for the quarter".

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