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Mobile operator MTN Group is reeling from the adverse effects of load-shedding.
This emerged when the company yesterday announced its financial results for the year 2022.
According to the telco, load-shedding impacted earnings before interest, tax, depreciation and amortisation (EBITDA) by R695 million.
The company incurred additional expenditure to meet the requirements of power, security and repairs, due to load-shedding and the vandalism of sites.
In September, MTN announced plans to power its Johannesburg headquarters with solar energy, and this green initiative is still yet to be completed.
However, MTN Group reported strong 2022 financial performance. This included an expansion in return on equity to 23.4% and a 10% increase in the dividend to 330c per share, in a challenging macro-economic environment of elevated inflation across its 19 markets.
According to the operator, in the year to 31 December 2022, total subscribers rose 6% to 289 million, with data subscribers growing by more than 12% to 137 million and Mobile Money users up by 21% to 69 million.
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