Over the period from January to June 2024, the sale of internet services from the Cameroonian subsidiary of the South African telephone giant contributed to 40% of total turnover.Based on the figures published by MTN Cameroon, the contribution of internet sales played an undeniable role in consolidating the 181 billion CFA francs in turnover achieved in 2024. If the document does not cite the reasons for this performance. We observe that the overall turnover recorded over the first 6 months of the current year shows an increase of 16% compared to the same period in 2023.
In addition to the contribution of the Internet and Fintech. Mobile money transactions mobilized the sum of 35 billion FCFA, representing a 19.3% contribution to turnover. While generalized inflation and currency fluctuations continue to negatively impact business activities,
“MTN Cameroon recorded satisfactory growth in its service revenues of 12.9%, outperforming local inflation of 6.2%, and maintained its leading position in a difficult and highly competitive market. Customer value management (CVM) initiatives led to solid growth in data services revenues (up 19.2%) and fintech services (up 27.4%), despite increased price competition ,” the Cameroonian subsidiary concluded.
In a context marked by consumer demands on high tariffs and incessant questions about the quality of service. As of December 31, 2023, MTN Cameroon recorded a turnover of 325.7 billion CFA francs. Driven 52% by the internet and financial services, the performance achieved by MTN Cameroon was based on an internet subscriber base that reached 5.8 million, while MTN Mobile Money users represented 5.6 million subscribers in 2023.
Despite persistent criticism of the excessive costs of its multiple offers. And while waiting for the implementation of its investment plan of approximately 136 billion CFA francs over the next three years. MTN Cameroon achieved a profit before taxes and depreciation of 123 billion CFA francs, tangible proof of solid profitability in a very competitive market.
