MTNN further built on its strong Q1:2021 performance to deliver a service revenue growth of 31.42% YoY in the second quarter, bringing the total service revenue for H1:2021 to NGN790.30bn (+24.06% YoY). The growth in revenue was spurred by an increase in revenue across segments, despite a decline in the active subscribers (-11.03% YTD) to 68.9 million. Data revenue grew by 48.29% YoY, driven by increased usage by active data subscribers (data traffic was up by 83% YoY) and acceleration of the firm’s 4G network (4G penetration reached 65.1%, from 60.1% in 2020FY). Similarly, fintech revenue advanced by 48.21% YoY, as the company’s fintech customer base surged
by 180.0% YoY to 6.1 million and transaction volume increased by 280.80% YoY to 55.6 million. An increase in usage by active SIMs pushed voice traffic up by 11.80% YoY, causing a 13.11% YoY growth in voice revenue.
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