MTN Group is planning price increases in certain markets, as Africa’s largest wireless carrier battles with inflationary pressures on the continent.
The telecom company, which operates across 19 countries including South Africa, Nigeria and Ghana, said Thursday in a trading update, it will continue to talk to regulators over the proposed price increases.
Inflation across MTN’s footprint averaged 18.5% during the first quarter, compared with 11.5% a year earlier, it said.
Within this environment of elevated inflation, implementing selective price increases across the portfolio remains a critical priority,” MTN chief executive officer Ralph Mupita said in the statement.
Russia’s war in Ukraine and the impact of debt accumulated during the Covid-19 pandemic on the region’s currencies has fuelled inflation in Africa.
In MTN’s home market of South Africa, a worsening series of power cuts has also contributed to price pressures, stunting economic growth and spending in the country. In Ghana,
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