MTNN targets 45% quarterly revenue growth in FY'25

MTN Nigeria, the leading telecommunications company in the country, is setting ambitious targets for its future growth amidst a changing economic landscape. CEO Karl Toriola recently spoke with CNBC Africa about the company's plans to achieve a minimum of 45 per cent growth in service revenue in 2025. Toriola highlighted the importance of factors such as the free flow of foreign exchange (FX), subsidy removal, and the tax reform bill in driving the telecom business forward. He emphasized the ongoing efforts to enhance the quality of service on the network while also addressing concerns about data service charges. Toriola's outlook for MTN Nigeria's growth aligns with the company's commitment to innovation and customer satisfaction. As the telecom industry continues to evolve, MTN Nigeria is positioning itself to capitalize on emerging opportunities and deliver value to its customers. One key theme that emerged from the interview is the significant impact of economic reforms on the telecom sector. Toriola underscored the importance of policies that promote a conducive business environment and enable industry players to thrive. By leveraging the reforms in the economy, MTN Nigeria aims to drive sustainable growth and expand its market presence. Key Points: 1. Economic Catalysts for Growth: Toriola identified the free flow of FX, subsidy removal, and the tax reform bill as key drivers of growth for MTN Nigeria. These factors are creating a favorable environment for the telecom industry to flourish and unlock new revenue opportunities. 2. Focus on Service Quality: In line with its growth objectives, MTN Nigeria is prioritizing the enhancement of service quality on its network. By improving customer experience and addressing concerns related to data service charges, the company aims to strengthen its competitive position in the market. 3. Strategic Vision for 2025: With a target of 45 per cent revenue growth in 2025, MTN Nigeria is charting a strategic course for the future. Toriola's vision for the company underscores a commitment to innovation, operational excellence, and sustained value creation for shareholders and customers. In a statement reflecting MTN Nigeria's aspirations, Toriola stated, 'We are confident in our ability to achieve robust growth in the coming years, driven by a combination of strategic initiatives and a favorable economic environment. Our focus remains on delivering superior services and creating value for our stakeholders.' As MTN Nigeria navigates the dynamic telecom landscape and embraces the opportunities presented by economic reforms, the company is poised to leverage its strengths and establish itself as a leading player in the industry.