MTN rides out difficult operating environments

Telecommunications giant MTN Group unpacked a resilient set of 2023 financial results, despite elevated inflation in several key markets averaging a blended 16.7%, forex volatility and ongoing political tensions in some markets, and a sharp devaluation of the naira in Nigeria. During the year ended December 31, 2023, MTN Group’s earnings before interest, tax, depreciation and amortisation (Ebitda), before one-off items, decreased 0.5% to R90.5-billion, with the Ebitda margin declining two percentage points to 40.9%, impacted mostly by the higher inflation and the effects of foreign currency devaluations.

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