MTN has revealed that it’s creating a partnership with regulators across several of its markets to get approval to increase tariffs for both voice and data to restore its profitability.
This comes after MTN reported a decline in full-year profit due to the naira devaluation, which made its biggest business (MTN Nigeria) absorb a post-tax loss of $101 million.
Referencing the expense profile of the company in Nigeria, the Group’s CEO, Ralph Mupita, explained that MTN needs some tariff increases to mitigate the cost of operations.
Mupita also revealed that MTN Nigeria is in talks to renegotiate some contracts with cell tower operators, such as IHS Holding Ltd. and ATC, to curtail further cost increases, as the majority of network expenses stem from these agreements.
