2024-04-06 06:27:32
The telecommunications leader in Cameroon, MTN, posts dazzling financial results for the year 2023. As revealed by 237online.com, the operator achieved a record turnover of 325.7 billion FCFA, an increase of 10 .9% compared to 2022. But behind these flattering figures lies a less rosy reality for the millions of Cameroonian subscribers, faced with high prices and sometimes questionable quality of service.
Internet and Fintech, MTN’s cash cows
The internet and financial services segments were the main drivers of MTN’s growth in Cameroon in 2023. Representing 52.13% of revenues alone, they now surpass revenues from voice calls. A performance driven by the 5.8 million internet subscribers and the 5.6 million users of the MTN Mobile Money service. But is this rush towards digital to the detriment of the purchasing power of Cameroonians?
123 billion in profits, and Cameroon in all this?
With a profit before taxes and depreciation of 123 billion FCFA, or 37.8% of its turnover, MTN displays insolent financial health. But what about the benefits for the Cameroonian economy? If the operator welcomes its tax contribution, it is clear that most of the profits generated leave the country to go back to the parent company in South Africa. A model that questions the real impact of MTN on the development of Cameroon.
Prices still too high for consumers
Despite MTN’s record profits, Cameroonian consumers continue to pay a heavy price for access to telecommunications services. With prices among the highest in the sub-region, internet and mobile money remain a luxury for many households. A situation which contrasts with the comfortable margins generated by the operator and which raises questions about its pricing policy.
When communication takes precedence over quality
To attract consumers, MTN deploys major communication campaigns every year, with strong advertising and sponsorship. An expensive marketing strategy that seems to be paying off given the financial results. But doesn’t this emphasis on communication come at the expense of network quality and customer service? Many subscribers complain of unstable internet connections, unexpected outages and unresponsive after-sales service. Recurring grievances which tarnish the image of the operator.
The specter of corruption hangs over the sector
In a highly competitive Cameroonian telecoms market, the issue of corruption often comes up. With colossal financial stakes, the temptation is great for operators to curry favor with political decision-makers to preserve their interests. If nothing proves at this stage any wrongdoing, transparency and ethics must more than ever be the key words to avoid any deviation.
Ultimately, MTN’s results in Cameroon appear mixed. If the financial performance is there, it should not obscure the challenges that remain to be met in terms of quality of service, affordable prices and benefits for the national economy. So many projects on which 237online.com, your citizen media, will continue to challenge the operator and the public authorities. Because MTN’s success will only be complete when it equitably benefits all Cameroonians.