Results Overview
Results Overview
for the year ended 31 December 2022
What are we doing today?
Highlights
Subscribers increased by
6.1% year-on-year (YoY) to
289.1 million
Active data subscribers increased by
12.3% YoY to 137.0 million
Active Mobile Money (MoMo) users
increased by 21.4% YoY to
69.1 million
MoMo volume of transactions
up 33.9% YoY to 13.4 billion
Group service revenue
grew by 14.4% (15.3%*)
Group data revenue
up by 30.4% (32.2%*)
Group fintech revenue
up by 8.6% (14.3%*)
Group President and
CEO Ralph Mupita
Looking to
the future
Results overview
Group President and CEO Ralph Mupita comments:
Operating resilience and growth in challenging macroeconomic conditions
"MTN delivered a solid operating and financial performance in 2022, as we continued to execute on our Ambition 2025 strategy. We are pleased with the business' continued resilience under challenging global and regional macroeconomic conditions.
Group President and
CEO Ralph Mupita
Looking to
the future
Macroeconomic conditions across the markets were mostly impacted by rising and elevated inflation as well as broad-based weakening of local currencies against the US$. The blended inflation rate in our markets averaged 15.1% in 2022 compared to 11.5% in 2021. Coupled with higher interest rates, consumers felt pressure on disposable incomes while enterprises optimised expenditure and capital investment during the period.
Macroeconomic conditions across the markets were mostly impacted by rising and elevated inflation as well as broad-based weakening of local currencies against the US$. The blended inflation rate in our markets averaged 15.1% in 2022 compared to 11.5% in 2021. Coupled with higher interest rates, consumers felt pressure on disposable incomes while enterprises optimised expenditure and capital investment during the period.
In South Africa, operating conditions were significantly impacted by the national grid power availability that worsened in the second half of the year. Globally, ongoing geopolitical volatility, supply chain constraints driven by China’s zero COVID-19 policy and exchange rate volatility also added pressure to operating margins.
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