Previous ArticleApple boss reveals record month for App StoreNext ArticleLiberty Global looks to converged future Home MTN in no-holds-barred review Related MTN expects fintech spin-off within a year MTN Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 05 AUG 2016 Author MTN eyes $6B valuation for money unit MTN is undertaking “a deep and fundamental” strategic review of its operations, reflecting the pressure on its voice revenue, customer demand for data, and “more complex and competitive” markets.The group is looking at housing new revenue streams, particularly from digital services, outside the core business. “This will allow for more agility and greater flexibility to accelerate growth in these areas”, it said.New digital revenue streams are expected to increase their contribution over the next 12 to 18 months.Other areas up for discussion include an advanced analytics unit that will enable the deployment of high-speed connectivity where it is most needed; improving operational efficiencies and customer care, with an emphasis on leveraging digital channels and reusing its mobile money service for distribution; and seeking “value-accretive” opportunities in select markets across Africa and the Middle East.The group said it has “external assistance” for its review, without naming names.H1 resultsThe review was announced in line with MTN’s first half results, which saw the group report an impressive sounding 14 per cent growth in revenue to ZAR79 billion ($5.8 billion).But the figure was boosted by kind foreign exchanges movements, as the South African Rand declined in value significantly against other currencies.Organically, revenue grew by a less impressive 1.5 per cent.Performance was impacted by factors such as a decline in outgoing voice and data revenue in Nigeria following the withdrawal of regulatory services from MTN’s local unit until May 2016.This setback was only partially offset by higher revenue growth at MTN South Africa, supported by strong device sales and an increase in data revenue.Outgoing voice revenue increased by 8 per cent on a reported basis, although it did feel the impact from competition, disconnections and free minutes used for subscriber re-registration campaigns.Meanwhile, group data revenue increased by 32 per cent and represented 25 per cent of total revenue. Digital revenue, including mobile financial services, contributed 32 per cent of data revenue.The group’s results were significantly impacted by the Nigerian regulatory fine.In June MTN Nigeria resolved this matter with the country’s government and agreed to pay a total cash amount of NGN330 billion ($1.67 billion) over three years in a full and final settlement.The US$250 million paid “in good faith and without prejudice” by MTN Nigeria in February 2016 forms part of the monetary component of the settlement, leaving a balance of $1.42 billion.In June 2016 the first scheduled payment of $124 million was made. The remaining cash payable at 30 June 2016 amounted to $882 million.First half EBITDA decreased by 38.4 per cent to ZAR18.9 billion, taking into account the Nigerian fine, hyperinflation, and deferred profit from the sale of towers in Ghana. Excluding this, EBITDA increased 3.3 per cent ZAR 29.3 billion.Net loss attributable to shareholders was ZAR5.5 billion, compared with a prior-year profit of ZAR11.9 billion. Tags Richard Handford MTN committed to Syria exit
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Why Tech Companies Need Simpler Terms of Servic… Nest, the Google-owned smart home device, is poised to show off its capabilities as more than just a thermostat at the Consumer Electronics Show this week. See also: Nest Makes Its Move In The Smart HomeIn June last year, Nest unveiled its public API that would allow independent programmers to create new applications for the company’s devices. In the following six months, dozens of companies have taken Nest up on it. At CES, the company will show off collaborations between Nest and Whirlpool, Philips Hue, and other smart home contenders. According to Nest’s announcement, the exhibit will take up at over a dozen booths and display features from a phone service that automatically forwards your calls to a washing machine that runs on quiet mode when you’re in the house. Nest will be showcasing its collaborations with other smart home companies, but the beauty of the API is that anyone can use it. For example, you can now use Nest with IFTT to automate particular behaviors for the thermostat without any programming.Photo via Nest lauren orsini A Web Developer’s New Best Friend is the AI Wai… Tags:#api#connected home#Google#Nest#Nest thermostat#smart home Top Reasons to Go With Managed WordPress Hosting Related Posts 8 Best WordPress Hosting Solutions on the Market
Categories: Miller News 18Jun Rep. Miller sets local office hours for June State Rep. Aaron Miller, of Sturgis, today announced an in-district office hours location for the month of June.“I look forward to these sit-downs with the people I serve,” Rep. Miller said. “Local input is invaluable as I work to represent my district’s priorities in Lansing. I hope you’ll join me at one of my upcoming hours and share what’s on your mind.”Rep. Miller will be available Friday, June 21 at the following times and locations:7 to 8:30 a.m. at Yoder’s Country Market, 375 Eleanor Drive in Centreville; and9 to 10:30 a.m. at L.A.’s Coffee Café, 145 W. Michigan Ave. in Three Rivers.No appointments are necessary. Those unable to attend may contact Rep. Miller’s office at (517) 373-0832 or [email protected]###