(Business in Cameroon) - The Cameroonian arm of South Africa’s MTN group posted positive results last year, official statistics showed. “I think things are looking much more positive. So I think you’re going to see a relatively fast turnaround in WECA,” Rob Shuter, MTN Group’s CEO, said during a meeting with investors.

Despite good performances on the internet and mobile money segments, MTN Cameroon saw turnover drop by XAF16 billion last year, according to a report issued March 7. A situation due to lower voice revenues which fell to R2.7 billion (XAF125.2 billion) in 2018, against R3.02 billion (XAF133.3 billion) in 2017, MTN Group explained. Another reason for the poor performance, Rob says, is the socio-economic instability and overall poor business conditions. Yet, the executive is optimistic; “all the countries around that had e-money licensing regimes, like Cameroon and Benin, made a lot of progress over the same period,” he stressed.

Idriss Linge