2016, Most Challenging Year in MTN’s 22-Year History- CEO

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Enterprise Television- 2016, Most Challenging Year in MTN’s 22-Year History- CEO

MTN Group has described 2016 as the ‘most challenging year in its 22-year history,’ while attributing the challenge to two main factors that emanated from its Nigerian operation, which was established about 17 years ago.

MTN Group CEO, Rob Shuter who gave the assurance, hinged it on the telecoms company’s future expansion prospects and aim to become the largest financial services provider in Africa.

The MTN boss who spoke in South Africa recently, said the company is targeting its mobile money subscribers across Africa within the next four years, with the eventual aim of becoming the largest bank on the continent.

According to him, around 21 million customers today use MTN’s mobile money services, adding that the number is growing at a rate of half a million active users per month.

MTN operates mobile money services across 14 markets in Africa including Ghana, Ivory Coast, Rwanda, Cameroon and Zambia.

The company’s goal of becoming the number one provider of banking services on the continent will see it compete with ambitious plans from Vodacom, which is preparing to export m-Pesa to new markets in a bid to further expand its operations in the sector.