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.
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.
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.
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.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Not from us - EFCC disowns list of 58 ex-governors allegedly under investigation
Zoo visitors blamed for tragic death of goat who just gave birth
Tinubu dodged a bullet by not appointing El-Rufai as minister - Shehu Sani
Tinubu's whereabouts unknown 7 days after Saudi Arabia trip
How North Korean leader Kim Jong Un selects 25 virgins annually for 'Pleasure Squad'
Ban on drumming and noise-making in Accra commences from May 6 - AMA
Traditional rulers wants Nigerians to pray for political leaders to succeed
Gov AbdulRazaq excited as Kwara UTME candidates record impressive scores
Kebbi Governor says some powerful people ganging up against his administration
ADVERTISEMENT