This was the view of the company at recent media brief, when tabling the challenges and success the telecommunications faced, particularly battling strikes over pay and bonuses that led to the resignation of Ahmad Farroukh, former CE and the controversial Nigerian $3.9b fine.
The Umtata born- MTN CEO Mteto Nyati says they will be focusing on digital and enterprise growth businesses for growth.
Chief Technology Officer Krishna Chetty, who has been with the company under three months, says the company had spent more than R20bn on radio network roll out in 2014 and 2015.
On boosting the troubled local unit, Mteto admitted that the SA market has been on the decline.
“We want to return the local business to growth. Other companies are scaling down on capital expenditure and we’re doing the opposite.”
Close to R12bn on investment will be utilised to improve the company’s voice, data and fixed broadband and that will be an increase from R10, 9bn spent last year.
This year MTN and Amadeus Capital invested heavily in Travelstart, an online travel agency focusing on Africa to the tune of R650m.
On the controversial fine -Mteto former Microsoft Corp. executive- reiterated that this has caused the company to review its spending plans.
In conclusion he says the company achieved a 3% growth in revenue last year after two years of decline.
Mteto was the group’s chief enterprise officer before his promotion.
