MTN Group Telecom company sees pressure on profit margins in South Africa, Nigeria

MTN said it was still negotiating a $3.9 billion fine by Nigerian authorities as the west African country.

  • Published:
Travellers walk past an MTN telecom shop at King Shaka International Airport in Durban, South Africa, November 16, 2015. play Travellers walk past an MTN telecom shop at King Shaka International Airport in Durban, South Africa, November 16, 2015. (REUTERS/Rogan Ward)
24/7 Live - Subscribe to the Pulse Newsletter!

MTN Group expects earnings to be under pressure for the rest of the year in its two main markets Nigeria and South African market, the company said on Wednesday, citing a weak exchange rate in Africa's biggest economy.

Africa's biggest mobile network operator by subscribers said in statement that weak economic growth in its key markets and tough competition could also negatively impact performance.

MTN said it was still negotiating a $3.9 billion fine by Nigerian authorities as the west African country.

Nigeria is pushing telecoms firms to verify the identity of subscribers amid worries that unregistered SIM cards were being used for criminal activity in a country still battling with Islamic militant group Boko Haram.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.