By: Justicia Shipena
The Mobile Telecommunications Company (MTC) has reported a decrease in its annual earnings for the current financial year, largely attributed to “extraordinary regulatory costs”, including the settlement of annual license fees totalling N$58.4 million.
This was revealed by MTC’s Chief Executive Officer Licky Erastus during the company’s annual financial performance announcement on Monday.
Erastus explained that while these costs impacted the company’s Earnings Before Interest, Tax, Depreciation, and Amortisation EBITDA, investments like the launch of MTC Maris, the company’s fintech initiative, are expected to yield long-term benefits.
Despite the regulatory pressures, Erastus revealed that MTC recorded a 5.85% revenue growth, attributed to rising demand for high-speed data connectivity, innovative products, and customer-centric services.
Comments