Based on the published information, it is discovered that, from January to June 2024, the performance achieved by MTN Cameroon is up by 16% compared to the first half of 2023. According to the local Cameroonian managers of the South African firm , “… 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.”
In detail, Internet connection services contributed to 40% of the turnover, representing a collection of 72.8 billion CFA francs, while financial services, particularly mobile money, enabled MTN Cameroon to capture 35 billion CFA francs, which constitutes 19.3% of the total income. While the MTN group has initiated many reforms since 2023 in Cameroon, banking on an investment of more than 136 billion CFA francs over the next three years. The South African mobile phone company states that overall, “…
During the first half of 2024, the MTN Group recorded strong commercial momentum, implemented key strategic initiatives and maintained the strength and resilience of the balance sheet. At constant exchange rates, data services revenues increased by 21% in the six months to June 30, 2024, while fintech services revenues increased by 27%.”
As a reminder, at the end of 2023, MTN Cameroon had captured a turnover of 316 billion CFA francs, up 28.2% compared to approximately 246.6 billion CFA francs achieved in 2022. With its 12 million subscribers in Cameroon, the MTN group is positioned as the second largest market in the CFA franc zone. Côte d’Ivoire occupies first place with its 17 million subscribers.
