Driven by Mobile Money transactions, MTN Cameroon’s revenues grew by 13.2% during Q3 2017

Telecom

Driven by Mobile Money transactions, MTN Cameroon’s revenues grew by 13.2% during Q3 2017

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- Wednesday, 25 October 2017 20:18

(Business in Cameroon) - MTN Cameroon’s decision, on June 21, 2017, to increase the fees for its Mobile Money service did not stop people from using the service.

Indeed, Telecompaper.com revealed that despite the fees’ increase, Mobile Money was the main MTN Cameroon’s revenue booster in the 3rd quarter of 2017. It revealed that these revenues increased by 13.2% by September 30, 2017, mainly due to the “significant increase in Mobile Money (MoMo) revenues” between June and September last. Yet, it was during this period that MTN increased the fees.

At the same time, internet revenues grew by 18.2% during the same period thanks to “a significant growth of data users and the spread of smartphones" in Cameroon.

BRM

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