MTN (Buy, TP: ZAR250, +71%) MTN Ghana – Quick Take – Q4 22: Decent Q4s, medium-term SR growth guidance upgraded
MTN Ghana has reported a decent set of results with solid top line trends but slowing EBITDA trends that are still being impacted by the macro. The company has provided medium-term guidance for service revenue growth of “low-twenties” vs. “mid to high teens” previously which is encouraging.
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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