MTN Says Accusations Of Illegally Moving Money Out Of Nigeria Have No Basis

South Africa’s MTN chairman said on Thursday that accusations that Africa’s biggest mobile operator had moved funds illegally out of Nigeria had no basis.

MTN is facing an investigation by Nigerian lawmakers for allegedly illegally repatriating $14 billion between 2006 and 2016. MTN has denied any wrongdoing.

Even as the South African Telecom giant posts full-year headline loss of 77 c/shr

* Consolidated financial results for the year ended Dec. 31, 2016

* FY revenue increased marginally by 0.4 pct (2.9 pct*) to R146.894 billion

* FY group subscribers increased by 3.3 pct to 240.4 million

* FY headline loss per share of 77 cents

* FY data revenue increased by 16.7 pct (19.7 pct*) to R39.546 billion

* Final FY dividend of 450 cents per share

* FY voice traffic decreased by 1.7 pct and data traffic increased by 143 pct

* FY capex increased by 19.6 pct (28.7 pct*) to R34.920 billion

* New revenue streams, particularly digital services, are expected to increase their contribution over next 18 months

* MTN Nigeria continues to make progress with its preparations to list MTN Nigeria shares on Nigerian Stock Exchange

* MTN Ghana is working with relevant regulators on its localisation transaction, which is expected to be completed during course of 2017

* In 2017, we expect mid-single-digit revenue growth and EBITDA margin expansion of between 50 and 100 bps yoy in S.Africa

Author: NewsAdmin

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