New Street: South African Telecoms CY22 1H review – Resilient growth; margin pressures
It was a tough environment for South African operators in the first half, impacted by continued network disruptions due to loadshedding. EBITDA growth stalled and margins were eroded as telcos turned to backup batteries and power generators, further exacerbated by rising fuel costs. On the mobile side, post-paid segment fared better as pre-paid was more impacted by inflation and delays in social grants.
MTN Group is a holding company engaged in the investment in the telecommunications industry offering voice services via 2G and 3G networks, including prepaid and postpaid airtime, please-call-me message service, international roaming, electronic voucher distribution services and community payphones, mobile and fixed data products, including short message service (SMS), multimedia message services, internet access, MTN MobileMoney, content portal MTN Play, Google SMS information services, USSD services and corporate data services. Co.'s operations are divided into the following three regions: South and East Africa, West and Central Africa, and the Middle East and North Africa.
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