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Technology | Mobile Money and Telcos

Robust Growth in Active Mobile Subscribers; Grows by 2.0% MoM in November 2022

Jan 19, 2023   •   by   •   Source: FBNQuest   •   eye-icon 202 views

Our chart below, drawn from the Nigerian Communications Commission (NCC) data, shows that active mobile lines and internet connection grew modestly by 2.0% m/m and 0.1% m/m to 219.0 million and 152.9 million respectively as at end-November 2022. This represents a  teledensity of c.110% and an internet penetration rate of c.76% based on a population of 200 million. The accretion in active mobile subscribers in November, at c.4.3 million, is the sector’s largest m/m increase since May ’22. The rate of mobile connectivity and internet penetration are key contributors to economic growth and development.

 

According to the data, the month-on-month increase in active mobile subscribers was largely driven by MTN Nigeria (MTNN) with a net addition of 3.1 million users in November.

 

In terms of market share, MTN Nigeria (MTNN) accounted for the largest share, with an increase of 64bps m/m to 39.54% in November.

 

Net subscriber additions for MTNN’s closest rival, Airtel Nigeria, were 0.73 million users (+1.2% m/m), and a market share decline of -20bps to 27.2%.

 

Globacom, the second largest mobile network by subscribers, had net customer additions of 0.31 million, with a market share of 27.4%. 9mobile recorded a modest addition of over 69,000 users in November, following losses of subscribers in recent months.

 

The Groupe Speciale Mobile Association (GSMA), through its Mobile Economy Sub-Saharan Africa report, projected the growth of mobile subscriptions in Sub-Saharan Africa to 613 million in 2025.

 

According to the global body of the mobile industry, Nigeria and Ethiopia are expected to drive the growth of mobile subscriptions in the region.  

 

The report further attributed the projected growth of mobile connections in the region to the relatively young and growing size of the population in the continent, which will likely accelerate the usage of mobile internet services in the foreseeable future.

 

Despite the upward pressure on operating expenses due to the rising cost of inflation and the weaker performance of the naira exchange rate, we still consider the communication sector to be one of the fastest growing sectors of the economy.

 

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