It was supported by our expense efficiency programme which yielded R2.7 billion in savings, mostly in Nigeria and South Africa. The performance of MTN South Africa was solid, with growth in service revenue of 3.6% to almost R41 billion and an EBITDA margin of 39.2%. On MTN South Africa, Mupita said: "We are encouraged by the performance of the business and the focus on network resilience. Amid unprecedented loadshedding and the intensified need for back-up power in the second half of 2022, MTN South Africa invested significantly to secure network resilience." To build the largest and most valuable platforms, we expanded our fintech ecosystem and made progress in separating our fintech business from our GSM business, receiving offers for strategic minority investments into the MTN Group fintech structure.

Source: Daily Observer March 14, 2023 12:58 UTC