MTN Africa’s volatile revenues
Generally, MTN has experienced revenue growth for its African operations, except for Guinea and Liberia, over the past five years. MTN Guinea and MTN Liberia experienced a significant downward trend in revenues, which can be partly attributed to the severe economic downturn as a result of the Ebola crisis.
Figure 1 also illustrates that multiple factors have an impact on revenues, including own product design and product design of competitors; quality of service of own network and that of competitors; and the general regulatory and economic conditions. The interaction of these factors can lead to significant revenue volatility,like that shown in Figure 1.