• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
13 °c
Columbus
19 ° Tue
21 ° Wed
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies

MTC records 5.9% revenue increase to N$3.23 billion

by editor
December 9, 2024
in Companies
11
A A
580
SHARES
9.7k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Mobile Telecommunications Limited (MTC) revenue increased by 5.9% to N$3.23 billion for the period ended 30 September 2024 driven by rising demand for high-speed data connectivity and value-added managed services.

You might also like

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

O&L Leisure launches rewards programme to encourage local travel

NamRA collects N$12.78 billion in first two months of financial year

The growth was underpinned by the expansion of both mobile and enterprise revenue segments.

The Group recorded an increase in roaming revenue, attributed to the recovery of the tourism industry post-COVID and a general increase in economic activities in the country. 

Despite this, the company’s net profit after tax decreased from N$796.9 million to N$772.9 million mainly due to an increase in depreciation and amortisation of 12% year on year associated with the strategic decision to invest in new technologies, capacity increase and infrastructure rollout.

MTC Managing Director Licky Erastus said the Group’s capital expenditure increased from N$587.6 million in 2023 to N$715.4 million due to investment in major projects that continue to support its vision and strategy.

“This included an additional approval of N$200 million to drive MTC’s fibre implementation to mitigate the dependency risk on our backbone fibre infrastructure,” he said.

Meanwhile, the SIM registration project increased temporary personnel costs, overtime and travel-related costs because of the SIM registration deadline in December 2023 and its extension to March 2024.

“A subscriber year-on-year growth of 2.5% was reported for the financial year despite a decline in prepaid subscribers during the compulsory SIM registration process, the impact of severe drought and high food inflation that negatively affected spending,” noted Erastus. 

He said MTC has been able to attract new subscribers with value-added products and service offerings that resulted in an increase in the total number of active subscribers from 2.17 million in 2023 to 2.224 million in 2024. 

“Prepaid ARPU grew by 13.6% because of subscribers that signed up for the subscription base products and the demand for data,” he said.

This comes after the group incurred N$15.4 million in marketing, consultation, management, system support and personnel costs during the year under review.

MTC’s earnings before interest, tax, depreciation and amortisation (EBITDA) decreased to N$1.48 billion from N$1.51 billion in the same period last year, due to increases in direct and operating costs and payment and provision of the annual licence fees of 1% of turnover.

Following a Supreme Court ruling on Section 23 of the Communications Amendment Act on 13 March 2024, MTC was found liable for levies to CRAN for the 2021 (partially), 2022 and 2023 financial years.

“This resulted in a settlement of N$58.4 million for levies in arrears (reported under contingent liabilities in FY2023) and an additional N$37.9 million for levies due in FY2024. This impacted the EBITDA by N$96.3 million and 3% on the margin,” said the company.

He added that MTC is optimistic about the future, especially with the launch of the Mobile Financial Service offering through MTC Maris, which promises to enhance financial inclusion and sustainability.

“The EBITDA of the group decreased, and the main contributor was the launch of MTC Maris which is expected to yield positive returns in the near future. Mobile Financial Service ‘Maris’ was launched on the 4th of October 2024,” said the MD. 

An interim dividend of 70% was declared on the interim financial results and a final dividend of 90% was declared resulting in a total dividend percentage of 80.63% for the 2024 financial year. 

“In terms of dividends, by the end of September, we had paid out close to N$545 million. Last week, the board approved an additional pay-out, bringing the total dividend pay-out for the year to 81%,” said Erastus.

author avatar
editor
See Full Bio
Tags: datafinancialsLicky ErastusMTCrevenue
Share232Tweet145Share41
Previous Post

Namibia’s beef exports surge by 44% 

Next Post

DBN appoints Nelson Simasiku as Head of SME Finance

Recommended For You

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

by reporter
July 10, 2025
0
Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

Namibia’s annual inflation rate stood at 3.7% in June 2025, with food, alcoholic drinks, and housing costs being the main drivers, according to the Namibia Statistics Agency (NSA)....

Read moreDetails

O&L Leisure launches rewards programme to encourage local travel

by reporter
July 10, 2025
0
O&L Leisure launches rewards programme to encourage local travel

O&L Leisure has introduced a new rewards programme aimed at encouraging more Namibians to travel locally, offering significant discounts on accommodation and dining across its properties. The Leisure...

Read moreDetails

NamRA collects N$12.78 billion in first two months of financial year

by reporter
July 9, 2025
0
NamRA sees drop in illegal vehicle imports following moratorium

The Namibia Revenue Agency (NamRA) has collected N$12.78 billion in revenue between 1 April and 31 May 2025, as part of the current financial year. Of this total,...

Read moreDetails

Namibia’s national parks generate over N$140m annually

by reporter
July 9, 2025
0
Northern Namibia leads tourism growth with 58% occupancy in May

Namibia’s protected areas generate more than N$140 million annually from tourism and conservation fees and support the livelihoods of at least 500,000 people, according to a revised draft...

Read moreDetails

Namibia backs India’s pharmaceutical hub proposal

by reporter
July 9, 2025
0
Namibia backs India’s pharmaceutical hub proposal

Namibia has expressed its full support for India’s proposal to establish a pharmaceutical manufacturing hub in the country under the “Pharmacy of the World” initiative. President Netumbo Nandi-Ndaitwah...

Read moreDetails
Next Post
DBN appoints Nelson Simasiku as Head of SME Finance

DBN appoints Nelson Simasiku as Head of SME Finance

Related News

CoW executive gets job back after resignation

CoW executive gets job back after resignation

December 15, 2021
Namport in record breakbulk shipment

Namport in record breakbulk shipment

October 8, 2021
Only 55.5% of CPBN-awarded projects on track 

Only 55.5% of CPBN-awarded projects on track 

October 23, 2024

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.