[Cameroon] MTN's customer-centric strategy delivered a solid performance in 2019
The MTN Group has published its consolidated results for 2019. MTN operates in operating in 21 countries including Cameroon. These results are characterized by subscriber growth which as of 31 December 2019 stood at 251 million in the 21 countries versus 233 million in 2018.
The Cameroonian subsidiary, MTN Cameroon for its part, achieved a solid performance in 2019. Despite the crisis in the North-West and South-West regions, which is still impacting the company's performance, MTN Cameroon's turnover stood at 218,7 billion FCFA as of 31 December 2019, up by 3.2% from the previous year. MTN Cameroon has thus regained its growth trajectory after four years of sharp decline.
This increase in turnover, which began in the fourth quarter of 2018 and was consolidated at close to 10% during the last six months of 2019, driven by a strong progression in Data services with close to 3,5 million users and sustained growth in the mobile money business which today records over 8 million subscribers.
MTN Cameroon also recorded an exponential increase of 26.25% in its customer base, with nearly 2 million new subscribers gained in fiscal year 2019. With 10.1 million subscribers and 49.5% market share as of 31 December 2019, MTN is the undisputed leader in the Electronic Communications sector in Cameroon.
This solid performance is the result of the customer-oriented strategy implemented by the company with major investments in network expansion and quality improvement. The MTN network is recognized by the international agency Rohde & Schwarz as the best infrastructure in Cameroon for voice and mobile internet services; while Cameroonians appreciate MTN as the No. 1 NPS in the sector.
The company has also placed special emphasis on the development of its mobile money business which is today not only the most available and secure mobile wallet in Cameroon, but equally the only mobile wallet with the GSMA certification in the entire CEMAC zone.
Commenting on the publication of the annual results, Hendrik Kasteel, Chief Executive Officer of MTN Cameroon said: "Thanks to the confidence of our clients and extraordinary commitment of all our teams, we have been able to achieve a very good performance in a difficult environment. With 10 million subscribers and improved positive performance quarter after quarter since the end of 2018, MTN Cameroon is now well positioned to enter a new phase of growth. In 2020, as we celebrate 20 years of presence in Cameroon, the company is committed to bring more value to its customers so that they are more satisfied and prouder to be part of the largest community in Cameroon. Equally, we plan on continuing to invest in order to drive Cameroon’s digital agenda.”