South African telecommunication company, MTN Group has reported higher revenue for the first quarter. The firm credits the boost to improved fintech revenue and a continued expansion in voice and data across the continent.
The company reaffirms its commitment to achieving medium-term targets. The revenue hike came from its businesses in South Africa, Nigeria and Ghana, which had a 10 per cent spike in earnings.
This information comes on the heels of its planned Initial Public Offer (IPO) in Nigeria. This would further convince many investors of the viability of its shares when its starts trading on the Nigeria Stock Exchange (NSE).
The company, which said it remained committed to achieving medium-term targets, says group service revenue rose 10 per cent led by performance in South Africa, Nigeria and Ghana.