Browsing: MTN Africa

Africa’s leading Mobile Network Operators (MNOs), MTN, Vodacom and Safaricom, have recently made bold plans to venture into the increasingly dynamic world of fintech. On 23rd June 2021, Safaricom launched its super app, which creates an ecosystem of mini-apps from the network operator as well as third-party apps that feed off the super app[1]. A month prior to this development, Safaricom, the leading MNO in Kenya announced plans to release an Application Protocol Interface (API) for the super app to enable third-party app developers to build more products and services on top of the super app[2]. This means the super app is going to be an app store that consolidates the reach of Safaricom.

In May, MTN also announced plans to become a tech platform to rival the likes of Apple and WeChat as part of their Ambition 2025 which is currently being implemented[3]

MTN, South African multinational mobile telecommunications company is expecting to gather full-year headline profit up to 50 per cent, which is still a slow-down from the previous years attributed by interest on regulatory fines in Nigeria, Reuters reported.

According to Reuters, MTN, which is due to report 2019 results on March 11, 2020, said headline earnings per share (HEPS) would likely be within a range of 438 cents to 506 cents on the IFRS 16 accounting basis adopted at the start of the year.

That compares to 337 cents in the previous year. On a like-for-like IAS 17 accounting basis, MTN expects to report growth in HEPS – a key profit measure in South Africa that strips out one-off items – of between 55 per cent and 75 per cent.

However, that is still slower than the 85 per cent jump the company reported in 2018. It attributed the …