en
en
Bitcoin
65,532
Bitcoin
$ 70,701
Bitcoin
65,532

MTN Cameroon reaps 59 billion FCFA profit in 3rd trimester of 2020

The mobile telephone company is thus experiencing a 27% increase in its turnover, compared to that achieved last year at the same period. The Cameroonian subsidiary of the South African telephone company, MTN Cameroon, achieved a turnover of 59.9 billion FCFA in the third quarter of the year 2020, according to figures communicated by the parent company,  on Wednesday, November 4, 2020.

This turnover is up 27% compared to that achieved by the company last year at the same period, and represents the best contribution of the Cameroonian subsidiary to the revenues of the South African group, since the 1st quarter of 2019.

This overweight is justified by the combination of several factors, in particular “the evolution of the exchange rate between the currencies of the two countries. The South African Rand over the period under review lost 15% of its value against the CFA. Which contributes to inflate the income when it is converted.”

To this is added a significant number of new subscribers during the third quarter, that is 445,000, which makes it a total of 1.56 million since the end of the third quarter of 2019. Enough to cheer up the top management of the parent structure . “The takeovers of MTN Cameroon and Côte d’Ivoire are now well established and these companies are now on solid foundations for future growth,” said Ralph Mupita, CEO of MTN Group, in remarks relayed by The day.