Nigeria: MTN Group Profit Falls Amidst Subscriber Growth

7 March 2013

The MTN Group, with headquarters in Johannesburg, South Africa, Wednesday released its 2012 financial report and declared that its profit fell slightly, compared to that of 2011, due to foreign exchange losses in some of its more difficult markets.

It however said in a statement that its subscriber base increased by 15.1 percent to 189.3 million in 2012, adding that its revenue also increased in other markets, despite the challenges faced in doing business in all its 21 operations in 2012.

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