{"id":59954,"date":"2023-12-13T17:33:48","date_gmt":"2023-12-13T17:33:48","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-records-5-3-revenue-growth-despite-decrease-in-individual-disposable-income"},"modified":"2023-12-13T17:33:48","modified_gmt":"2023-12-13T17:33:48","slug":"mtc-records-5-3-revenue-growth-despite-decrease-in-individual-disposable-income","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-records-5-3-revenue-growth-despite-decrease-in-individual-disposable-income","title":{"rendered":"MTC records 5.3% revenue growth \u2026 despite decrease in individual disposable income"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Despite economic challenges and a significant decrease in personal disposable income, Mobile Telecommunication Limited (MTC) recorded an impressive 5.3% year-on-year revenue growth. This means MTC generated some N$3.05 billion during the last financial year, compared to the previous financial year when they generated N$2.89 billion in revenue.<\/p>\n

Challenges highlighted by the mobile telecommunications giant include elevated inflation and the weaker local currency against the USD. Despite these hurdles, MTC adapted and advanced its strategic goals of continuous investments in Corporate Social Investment (CSI), innovation, digitisation, network expansion and optimisation.<\/p>\n

CEO and managing director Licky Erastus added that earnings per share increased from 105.74 cents to 105.89 cents \u2013 and that by 4 December 2023, the company\u2019s board approved a final dividend of 38.8 cents, payable 2 February 2024. \u201cProfit for the year grew from N$793 million to N$794.2 million for the 2023 financial year. This achievement was despite the challenging current economic situation, decrease of individual disposable income, together with the escalation of cost of living as a result of a high inflation rate,\u201d he said during the announcement of the company\u2019s financials.<\/p>\n

Erastus also noted that customers\u2019 numbers on prepaid services declined because of the mandatory sim registration.<\/p>\n

He said: \u201cMTC deployed additional staff in the Mobilehomes as well as mobile teams to assist customers with the registration process\u201d.<\/p>\n

This is in response to Communications Regulatory Authority of Namibia\u2019s (CRAN\u2019s) CEO Emilia Nghikembua, stating that SIM card registration is a national initiative, aimed at facilitating the investigation of crimes committed with the aid of telecommunications devices and enhancing e-commerce activities, such as online trading. \u201cThere are also benefits and cases that are directly facilitated by the registration of digital identities. There has been an increase in the use of digital and\/or online services, providing opportunities for Namibians to embrace virtual teaching and learning, mobile banking and online shopping \u2013 just to mention a few,\u201d Nghikembua stated in a circular issued last week. With the deadline for the mandatory SIM card registration looming (31 December 2023), more than 2.4 million active SIM cards across all licensed networks in Namibia will be impacted, of which over 1 million were registered by 30 November 2023, signifying a 43% registration rate.<\/p>\n

Said Nghikembua: \u201cThere has been a substantial increase in SIM card registrations since 30 September 2023, rising from 33% to the current 43% as of 30 November 2023. This indicates a positive trend in SIM card registration across various operators, highlighting encouraging progress within the review timeframe\u201d.<\/p>\n

Unregistered SIM cards will be suspended for three months after 31 December 2023.<\/p>\n

If a customer attempts to use the service during the suspension period, they will not be able to use the service and will simply receive a warning message.<\/p>\n

\u201cDuring the three-month suspension period, the service may be reinstated, and the customer can retain the mobile number linked to the SIM card once the customer provides the necessary information for SIM card registration. If the suspension period expires without registration, the mobile service provider will cancel the service and number. The customer must then purchase and register a new SIM card, which shall result in the customer losing the previous mobile number,\u201d added Nghikembua.<\/p>\n

Nedbank\u2019s managing director Martha Mururua told Inside Business that the lack of participation from Namibians to have their SIM cards registered will have dire consequences, as this might lead to the suspension of unregistered SIM cards by the relevant entity. \u201cWhen you are doing a payment, you are required to authenticate your transaction \u2013 and that is sometimes done via a mobile phone, and if you don\u2019t have one, you won\u2019t be able to authenticate the OTP also,\u201d she stressed. Murorua added: \u201cMost of the customers who are unbanked are using the e-money functionality, and they will be impacted because people will not be able to receive their money. We are taking this mandatory SIM registration lightly.\u201d<\/p>\n

She said MTC is trying to fast-track the process, but it serves no purpose when people are not pulling in the same direction.<\/p>\n

Murorua suggested that an extension be granted, as the deadline of 31 December is too close, and this is a period when customers go on holiday and plan for the following year.<\/p>\n

\u201cWe have also not planned, as the banking industry, and we are supposed to be part of this whole process to fast-track the mandatory SIM card registration. Come 31 December 2023, and people cannot receive e-wallets or send money from Nedbank, it will be chaos,\u201d Murorua noted.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Despite economic challenges and a significant decrease in personal disposable income, Mobile Telecommunication Limited (MTC) recorded an impressive 5.3% year-on-year revenue growth. This means MTC generated some N$3.05 billion during the last financial year, compared to the previous financial year when they generated N$2.89 billion in revenue. Challenges highlighted by the mobile […]<\/p>\n","protected":false},"author":84,"featured_media":59953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-59954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nMTC records 5.3% revenue growth \u2026 despite decrease in individual disposable income - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/mtc-records-5-3-revenue-growth-despite-decrease-in-individual-disposable-income\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MTC records 5.3% revenue growth \u2026 despite decrease in individual disposable income\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. Despite economic challenges and a significant decrease in personal disposable income, Mobile Telecommunication Limited (MTC) recorded an impressive 5.3% year-on-year revenue growth. This means MTC generated some N$3.05 billion during the last financial year, compared to the previous financial year when they generated N$2.89 billion in revenue. 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