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.
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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