SENS Note - 24 October 2017

MTN - quarterly update

MTN is a leading emerging markets mobile operator, connecting approximately 230 million people in 22 countries across Africa and the Middle East. We are at the forefront of global technological changes, delivering a bold, new Digital World to our customers. Salient features Group subscribers declined marginally by 0.7% quarter-on-quarter (QoQ) to 230.2 million, largely driven by lower reported subscribers in Nigeria as we continue to refine our active subscriber definitions as well as the disconnection of approximately 750 000 subscribers in Uganda as a result of regulatory SIM registration requirements. Active MTN Mobile Money customers increased QoQ by 10.6% to 19.8 million. Voice traffic (billable minutes) increased by 9% and data traffic continued to grow strongly up by some 125% year-on-year (YoY). On a reported basis Group total revenue and Group service revenue reduced by 13.4% and 14.0% respectively largely due to exchange rate movements. On a constant currency basis Group total revenue increased by 6,9%, with Group service revenue up 7.4%. Data revenue increased by 31.4% and digital revenue was up 19.6%. MTN South Africa's organic service revenue increased by 5.2%. MTN Nigeria reported an 11.2% increase in total revenue supported by data revenue growth of 72.1%. MTN Irancell total revenue increased by 16.8% and; MTN Group year-to-date capital expenditure was R18 billion, up 1.1%.

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