South Africa's Mobile Telephone Networks (MTN) boosted subscribers by nearly 7 percent in the first quarter of 2010, helped by Iran and Nigeria as major markets.
Buoyed by strong growth in major markets such as Iran and Nigeria, MTN said it added 7.6 million subscribers during the quarter, bringing its total users to 123.6 million at the end of March, Moj News Agency wrote.
MTN signed up 10 million customers in Iran in 2008 giving it a 37 percent market share compared with a 23 percent stake in 2007.
Its South African unit showed little growth, however, increasing by just 2.2 percent to 16.4 million subscribers.
"I think what one has to accept is that the local market is saturated and that's why they are looking for opportunities," said Abri du Plessis, chief investment officer at Cape Town-based Gryphon Asset Management.
MTN, which aims to add another 20 million subscribers in 2010, said its MTN Irancell unit increased subscribers by 9 percent to 25.4 million and the Nigerian unit users rose by 8 percent to 33.3 million.
© Iran Daily 2010
