MTN eyes double-digits from Nigeria sales growth as economy recovers

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South Africa’s MTN Group expects double-digit Nigeria sales growth in the medium term, above an overall average of high-single digits, as economic conditions improve and it gains subscribers from troubled competitors. As part of the fine settlement, the company agreed to list its local unit on the Nigerian Stock Exchange. Talks are also ongoing with the regulator to use spectrum gained from its acquisition of Visafone in 2016.

While MTN is highly unlikely to leave its biggest market, the company has had run-ins with the regulator and was forced to pay a $1 billion fine last year for missing a deadline to disconnect unregistered users.

“Our strategy is to grow our network and we need all the spectrum we can,” said Mupita.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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