MTN will announce profits for 2017 after recovering from Nigeria fine

godfred akoto

January 30, 2018 9:10 AM

The South African company was hit hard in 2016 and 2017

MTN, the biggest mobile operator in Nigeria said it returned to profit in 2017.

In a statement released on Monday, the company said it expected to report a profit for the financial year ending in December, 2017.

MTN was hit hard by a record $5.2 billion fine in Nigeria over allegedly failing to switch off unregistered users.

The fall out of that fine hit the company hard and led to several investigations and resignations within the management of the company. The company also made severe losses in its value and revenue as it recorded as much as $107 million in March of 2017.

The company will give more information once it obtains more certainty on the profit range, it said.

godfred akoto

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