Phuthuma Nhleko, the MTN Group Chief Executive Officer, has said that the telecommunications operator increased its subscribers' base in Nigeria by 4.2 million in the first half of 2010.

He said this on Thursday at the presentation of the company's reviewed interim results for the six months ended June 30 in Johannesburg, saying that the operator's subscribers globally had reached 129.2 million.

Nhleko, presenting the report, said that the subscribers' base of MTN Nigeria had grown from 30.8 million in December 2009 to 35.1 million by June, representing a 14 per cent increase.

He said following the increase, the telecommunication company reviewed its expected six million new subscribers envisaged for 2010 from Nigeria to 6.35 million.

Nhleko said that MTN had recorded increased market share in the Nigerian telecommunications market, where it had 51 per cent by June.

He said that the local currency revenue increased by 14.7 per cent in the first half of 2010, explaining that it translated to a disappointing 7.7 per cent decline in Rand terms due to its strength against the Naira.

He put the revenue in Rand terms at R16.5 billion.


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