Mobile Telecommunications Limited (MTC)’s revenue increased by 5,91% to N$1,57 billion for the period under review, due to increased demand for high-speed data connectivity and value-added managed services which contributed towards the group, this was contained in interim results for the six months ended 31 March.
Earnings before Interest, Tax, Depreciation, and amortisation (EBITDA) decreased by 4,9% to N$700 million from N$734 million in the same period last year, due to increases in direct and operating costs.
Following a Supreme Court ruling on section 23 of the Communications Amendment Act on 13 March 2024, MTC was found liable for levies to CRAN for the 2021, 2022, and 2023 financial years. This resulted in an additional N$59,7 million raised for arrear levies and a N$75,4 million increase in regulatory levies compared to the same period last year.
MTC declared an Interim dividend of N$253 million being 33,82 cents per ordinary share was declared on 31 May 2024 for the six months ended 31 March 2024.
Following its recent update on 3 April 2024 regarding the suspension of unregistered subscribers, at 30 April 2024 MTC has effectively registered 203 348 customers from the initial 323 236 unregistered subscribers.
“Achieving a notable 94% registration rate from 83.3%, demonstrating effective compliance and outreach. Concurrently, the unregistered subscriber count stands at 119 888 reducing the potential revenue loss from N$8,1 million to N$2,4 million per month,” the company said.,
It said the figures reflect MTC’s effective compliance and outreach, demonstrating continuous improvement in managing unregistered subscriptions.
MTC plans to continue its trajectory of growth and innovation, focusing on strategic advancements that enhance our service delivery and market presence.
“Our approach is geared towards maintaining resilience and adaptability in a rapidly evolving telecommunications environment.”
On strategic initiatives, the company said its key initiatives for the coming period include enhancing system efficiencies and customer contract management, with a focus on improving technological infrastructure to support our service offerings.
“These efforts are underpinned by targeted enhancements in our core systems and processes to better serve our customer base and streamline operations.”
MTC is preparing to enhance its offerings with the upcoming launch of a new mobile financial service. This initiative is designed to broaden its service portfolio, catering to the evolving needs of its customers.
The company is also enhancing its network infrastructure by extending fiber connections across key regions. “This strategic development improves service delivery and aligns with the growth potential presented by upcoming energy projects in Namibia.”
