MTN Evaluates Exit from Three African Markets Amid Regional Challenges
African telecommunications giant MTN is reportedly contemplating an “orderly exit” from its operations in Guinea-Bissau, Guinea-Conakry, and Liberia, according to a report by Business Insider Africa.
The company, which currently operates in 19 countries across Africa and the Middle East, aims to streamline its portfolio and address challenges in the West and Central Africa (Weca) region.
While the exact reasons for the potential exit remain undisclosed, MTN’s financial reports indicate broader challenges in the Weca segment.
CEO Ralph Mupita highlighted concerns over inflation and currency devaluation in multiple markets.
The company’s 2022 financials revealed a 1.7% decline in EBITDA margin due to pricing pressures, fintech channel subsidies, and macroeconomic hurdles.
Although Guinea-Bissau, Guinea-Conakry, and Liberia contribute only 1.6% to MTN’s total revenue, the move aligns with the company’s strategic focus on optimizing its market presence.
MTN holds a significant market share, approximately 30%, in Guinea-Bissau and Guinea-Conakry, while Lonestar MTN is the second-largest telecom operator in Liberia.
The potential exit reflects MTN’s commitment to adapting its business strategy to navigate the evolving economic landscape and optimize its portfolio for sustained growth.
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Starlink’s Expansion to Propel SpaceX Revenue to $15 Billion by 2024
SpaceX is poised to report $9 billion in revenue for this year and is projected to hit $15 billion in sales in 2024, according to undisclosed sources.
The figures offer a rare glimpse into the financial health of the company led by entrepreneur Elon Musk.
SpaceX generates revenue through two core businesses: launching payloads into space aboard its reusable rockets and providing internet services through its Starlink constellation.
Starlink, the internet service venture, is expected to outpace the revenue from the launch business next year as its services expand to additional regions across the globe.
This shift will result in Starlink accounting for the majority of SpaceX’s revenue.
The specifics of SpaceX’s earnings have been closely guarded, but it is recognized that the company’s valuation recently reached approximately $150 billion in a tender offer earlier this year.
While the company did not respond to requests for comments, it is noteworthy that SpaceX is projected to register earnings exceeding $3 billion, excluding certain items.
Musk has been optimistic about the prospects of Starlink, suggesting it might be spun off in a public listing as the service’s cash flows become more predictable.
SpaceX has committed substantial investments to expand its satellite constellation and deliver high-speed internet services.
For 2023, Starlink’s revenues are anticipated to exceed $10 billion, as Musk envisions the service achieving annual revenues of $30 billion.
Earlier this year, SpaceX President Gwynne Shotwell announced that the company had already achieved a cash flow-positive quarter and was on track to become profitable.
Last week, Musk indicated on a social media platform that Starlink had reached cash flow breakeven.
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