The Mobile Telecommunications Company (MTC) achieved profitable growth and increased its infrastructure investment during 2022 as its customer-centric digital transformation strategy delivered value.

The company's revenue has grown from N$25,6 million in 2021, to N$52,9 million in 2022. 

MTC achieved satisfactory growth in revenues from its traditional operations, with increased revenue from prepaid services more than compensating for lower postpaid revenue.

Prepaid subscribers account for 63% of all revenues, generating an average revenue per user (ARPU) of N$64,90 while postpaid subscribers account for 23% of all revenues - generating an average revenue per user of over N$356.

Existing revenue streams grew by 2,4% within the strategic target range of three to 6%, despite a slowdown in consumer spending during the second half of the financial year. 

This is due to the demand for MTC's popular Multiple Aweh products, amongst others.

Earnings before interest, tax, depreciation, and amortization increased by 3,2% to over one million due to revenue growth and cost containment.

MTC's cash holdings in September 2022 were up by 13,9% compared to the previous year's drop of 9%, owing to fewer capital investments.

Cash reserves earned MTC interest income of N$85,5 million, compared to N$42 million in 2021.

Emphasizing the role of governance in the company, Chairperson Theofelus Mberirua says the transition from mobile operator to digital service provider has aided the company in providing innovative products and services, not available a mere few years back.

MTC maintained network availability above 98% this year.

"We have achieved an 18% increase on our 4g coverage from 49-66% network coverage in the last year we have received positive feedback from customers who migrated in all aspects of affordability."

The company's existing revenue stands at over N$2,8 billion.