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Home Business News

MTN Blames Nigeria For Its Poor 2015 Financial Performance

Editor by Editor
March 3, 2016
in Business News, Spotlight
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MTN Group released its 2015 financial results, which showed the company’s profits dropped by 50%, as the company has also set aside $600 million to cover the settlement of the fine by the Nigerian telecommunications commission (NCC).

MTN also explained that financial results reflect the challenging operating environment the business experienced in the year as weak macro-economic conditions, increased market competition, heightened regulatory pressures, notably in Nigeria, and operational challenges in some of our markets resulted in a lower-than-expected performance

The South African company has been at loggerheads with the NCC for months to reduce the $3.9 billion fine which was imposed for failing to cut off unregistered SIM card users, and it recently confirmed that it had paid $250 million to the Nigerian government.

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Here is a summary of the result:

  • FY revenue increased 0,1% to R146 353 million

  • FY HEPS decreased 51,4% to 746 cents

  • FY EBITDA decreased 8,6% to R59 918 million

  • Final dividend of 830 cents per share, with total dividend of 1 310 cents per share

  • FY EBITDA margin decreased 3,9 percentage points to 40,9%

  • Capex increased 15,7% to R29 199 million

  • Voice traffic and data traffic increased 14,5% and 108,5% respectively

Editor

Editor

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  • CBN flags spike in loan defaults, small businesses top defaulters in Q2 2025 
  • Ekiti seeks N175.75 billion NRDF grant to diversify state’s economy 
  • Aradel Holdings appoints Augustine Olorunsola as Interim Board Chairman — Meet him 

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CBN, forex

CBN flags spike in loan defaults, small businesses top defaulters in Q2 2025 

July 18, 2025
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Ekiti seeks N175.75 billion NRDF grant to diversify state’s economy 

July 18, 2025
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