Lending product drives MTN Nigeria's fintech revenue growth in H1 2024
MTN Nigeria reported a 2.9% increase in total subscribers, reaching 79.4 million. The telco's fintech business saw 11% revenue growth primarily due to its airtime lending product Xtratime and the adoption of its mobile money services, MoMo.
MTN Group service revenue plunges 18.8% in Q1 2024, fintech revenue up 11.4%
MTN Group reported an 18.8% fall in Q1 service revenue compared to Q1 2023, but in constant currency, service revenue increased by 11.1%. MTN Nigeria's service revenue declined by 52.8% in Q1 2024.
MTN sees decline in internet subscription over NIN-SIM compliance
MTN Nigeria saw over 2.8 million subscribers drop from its internet business in January. Airtel gained the most subscribers in January, solidifying its position as the second-largest internet service provider.
Nigerian Startups Pivot to Domestic Solutions Amid AWS, Azure Cost Pressures Due to Naira Depreciation
MTN Nigeria, Cadbury Plc, and BUA Foods suffered financial losses due to their operating costs being linked to the dollar. Nigerian startups are shifting their technology requirements to local service providers like Zoho for internal communication tools.
Breaking: NCC withdraws disconnection notice on Glo after N2bn interest payment to MTN
The Nigerian Communications Commission has lifted a disconnection notice placed on Globacom after it reached an interest payment agreement with MTN Nigeria. MTN agreed to accept N2 billion in interest payments instead of the original sum of N3 billion.
