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MTN reaches 150m clients

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KAMPALA, The MTN Group has passed 150 million mobile subscribers, showing strong subscriber growth despite increased competition.
Speaking at the MTN Group Annual General Meeting (AGM) today, MTN Group President and CEO Sifiso Dabengwa announced that MTN increased its subscriber base by 7.4 million subscribers or 5% to 149 million customers for the four months to 30 April 2011, and has subsequently passed 150 million mobile subscribers across its 21 operations.
Margins in the majority of MTN's key markets in Africa and the Middle East remained robust, although margin pressure in markets with high levels of price competition was experienced.
Robust margins were primarily due to the benefit of on-going cost control and efficiency initiatives, despite the negative impact of inflationary pressures and higher fuel costs.
"MTN believes its current initiatives place it in good stead to take advantage of value creating opportunities, while mitigating the various risks. MTN will continue to leverage its scale, operational capability and intellectual capacity in an industry which has become more competitive as it matures and evolves," said Dabengwa.
The MTN Group wishes to share its 150 million subscriber milestone with communities by linking it to a worthy social cause. Accordingly, MTN has pledged to plant 150 000 (one hundred and fifty thousand) trees across its markets during the next six months.
MTN is cognisant of the serious implications of climate change in its markets and the world, and is therefore making a contribution to preserve the environment.
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