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    Home»Fintech»Fintech shines bright in gloomy MTN results
    Fintech

    Fintech shines bright in gloomy MTN results

    August 19, 20242 Mins Read


    MTN Group CEO Ralph Mupita seemed positive in his H1 results statement.

    MTN Group CEO Ralph Mupita seemed positive in his H1 results statement.

    “Although the underlying commercial momentum and strategy execution were solid in the period, macro headwinds impacted operating results,” wrote MTN Group CEO Ralph Mupita in the results statement.

    The company did see growth in its ecosystem, with data traffic and fintech volumes increasing by 35.7% and 18.0%, respectively.

    Vodacom said that it has exhausted other options and is pursuing court action.

    MTN also made significant strides in its strategic initiatives, including localisation efforts and the optimisation of its portfolio.

    “Notwithstanding, we are encouraged by the strong operational performance in other key markets in H1,” said Mupita, highlighting the company’s resilience and determination to navigate the challenging macroeconomic environment.

    Fintech shines bright in gloomy MTN results

    Services are up

    MTN showed encouraging progress in key areas of the business, contributing to an acceleration in overall service revenue in South Africa.

    Fintech shines bright in gloomy MTN results

    The Nigerian business also delivered a strong underlying performance despite the macroeconomic challenges.

    We will continue on the execution of our Ambition 2025 strategy to drive growth and unlock value for all our stakeholders over the medium term.

    Looking ahead, Mupita is confident in the company’s ability to overcome the current hurdles and achieve its medium-term growth ambitions.

    He outlined the company’s priorities, including accelerating expense efficiencies, driving growth in key markets, and leveraging partnerships to scale its platform businesses.

    “We remain resolute in executing on our commercial and strategic priorities,” he affirmed.



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