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MTN Cameroon records XAF16bn revenue-drop in 2018


Devdiscourse News Desk yaoundé Cameroon
Updated: 13-03-2019 16:09 IST
MTN Cameroon records XAF16bn revenue-drop in 2018

In 2018, outgoing voice revenues were R2.778 billion (XAF125.2 billion) against R3.026 billion (XAF133.3 billion) a year earlier. Image Credit: Twitter / MTN Cameroon

According to a recently released worksheet, MTN Cameroon witnessed a decline by XAF16 billion in revenues in the last year despite good performances.

Based on a XAF/ZAR average exchange rate of 1R for XAF45.07 in 2018, and 1R for XAF44.06 in 2017, MTN Cameroon's total revenues in 2018 peaked at R4.549 billion (XAF223.5 billion), against R5.373 billion (XAF239.6 billion) in 2017. This thus reflects a decline by XAF16 billion, as reported by Business in Cameroon.

Lower voice revenue is accountable for the poor performance. In 2018, outgoing voice revenues were R2.778 billion (XAF125.2 billion) against R3.026 billion (XAF133.3 billion) a year earlier. In that segment alone, the company lost XAF8 billion between the two years. Incoming voice revenues shrunk by XAF6 billion in 2018 to R515 million (XAF23.2 billion), compared to R663 million (XAF29.2 billion) in 2017. Decrease in overall voice revenues cost MTN Cameroon XAF14 billion over the period reviewed.

"Our performances are strongly affected by the crisis in the northwest and southwest regions, where MTN holds 60 percent of telecoms market shares," MTN Cameroon's Managing Director, Hendrik Kasteel revealed.

Also Read: Israeli investors' water treatment project to increase drinking water in Cameroon

READ MORE ON : CameroonMTN Cameroon
COUNTRY : Cameroon

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