In brief

12 May 2017

Mergers, Acquisitions and Financial Results

MTN said on Monday that it has agreed, on a non-binding and preliminary basis for now, to invest R540m into Iranian fixed broadband provider Iranian Net. The investment will give it a 49% stake in the company. Read the full story here.

Kenyan telecoms operator Safaricom has reported revenue of KES212.9 billion (USD2.0 billion) for its financial year ended 31 March 2017, an increase of 8.8% from KES195.7 billion twelve months previously. Total service revenue rose 14.8% year-on-year to KES204.1 billion, thanks to a 38.5% jump in mobile data revenue from KES21.2 billion to KES29.3 billion in FY 2017. Safaricom said that EBITDA grew to KES103.6 billion in the twelve months to end-March 2017, up by 24.7% from KES83.1 million in the year-ago period, helping to boost net income by 27.1% from KES38.1 billion to KES48.4 billion over the same timeframe. Safaricom said its mobile customer base totalled 28.1 million at 31 March 2017, an increase of 11.8% year-on-year, including 16.6 million mobile data customers (up by 18.1%). The number of active customers using Safaricom’s M-PESA mobile financial service reached 19.0 million at end-March 2017, compared to 16.6 million twelve months earlier.