South Africa based
Telecommunications company, MTN Group, formerly M-Cell which has grown to be a dominant force in
Nigeria has just announced that
more than five million Nigerian
subscribers have stopped using
their MTN lines.
The company recently publicly declared a very low increase in
subscriber growth and they blamed this on stiffer competition unlike before and the tougher regulations
now in place in the Nigerian market.
The company announced that in the
last three to four months, they
have witnessed a 0.95 increase in users below the 25 they witnessed same time last year.
The Telecomms giant’s Chief
Executive Sifiso Dabengwa, added
that their subscriber base in Nigeria has fallen as a result of
over five million users been disconnected because of their failure to register their sim cards.
“Aggressive price competition, weakening macroeconomic
conditions in most of our markets and unfavourable exchange rate
movements continued to impact financial performance for the quarter,” he said.