MTN shares have fallen by more than 40% in the past year, while its competitor Vodacom has seen only a modest decline on the Johannesburg Stock Exchange.<\/p>\n\n\n\n
The differentiator? Nigeria. Despite increasing its numbers of subscribers and active data users, MTN’s Nigerian subsidiary is been performing poorly, reporting a loss after tax of 519-billion naira for the six months to end June.<\/p>\n\n\n\n
On 6 August, MTN\u2019s share price fell to R72.70, sharply down from R140 on 1 August last year. It had inched up to around R85 a week later.<\/p>\n\n\n\n
The company said the devaluation of the naira against the US dollar had ‘severely’ affected its financial performance. The naira has struggled to stabilise against the dollar since Nigeria ended its regime of regulated exchange rates in June 2023. The currency has more than doubled against the dollar to about 1,590 naira.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[709,5,1387],"tags":[702,721,1079,256,1080,1003,722],"newsletter-post":[],"site":[],"class_list":["post-89050","post","type-post","status-publish","format-standard","hentry","category-business","category-economy","category-the-outlier","tag-jse","tag-mtn","tag-naira","tag-nigeria","tag-share-price","tag-telecoms","tag-vodacom"],"acf":{"big_number":"","big_number_caption":"","big_number_link":"","big_number_background":"","big_number_text_colour":"#000000","big_number_icon":false,"big_number_wide":"yes","featured_chart":{"ID":89045,"id":89045,"title":"MTN-share-price","filename":"MTN-share-price.png","filesize":34465,"url":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price.png","link":"https:\/\/outliereditor.co.za\/index.php\/2024\/08\/15\/mtn-share-price-drops-44-hit-by-nigerian-currency-woes\/mtn-share-price\/","alt":"","author":"7","description":"","caption":"MTN shares have fallen by more than 40% over the past year, while its competitor Vodacom has seen only a modest decline on the Johannesburg Stock Exchange.\nOn 6 August, MTN's share price fell to R72.70, sharply down from R140 on 1 August last year.\nThe decline in the share price can largely be attributed to the poor performance of its Nigerian subsidiary. The devaluation of the naira against the US dollar has severely affected its financial performance, the group said in its interim financials for 30 June 2024.\nDespite improving its active data users and total subscriber numbers, MTN Nigeria reported a loss after tax of 519-billion naira for the six months to end June.\nThe naira has struggled to stabilise against the dollar since Nigeria ended its regime of regulated exchange rates in June 2023. This has led to its more than doubling against the dollar to around 1,590 naira.","name":"mtn-share-price","status":"inherit","uploaded_to":89050,"date":"2024-08-13 20:34:58","modified":"2024-08-15 14:26:45","menu_order":0,"mime_type":"image\/png","type":"image","subtype":"png","icon":"https:\/\/outliereditor.co.za\/wp-includes\/images\/media\/default.png","width":1080,"height":1080,"sizes":{"thumbnail":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price-150x150.png","thumbnail-width":150,"thumbnail-height":150,"medium":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price-300x300.png","medium-width":300,"medium-height":300,"medium_large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price-768x768.png","medium_large-width":768,"medium_large-height":768,"large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price-1024x1024.png","large-width":1024,"large-height":1024,"1536x1536":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price.png","1536x1536-width":1080,"1536x1536-height":1080,"2048x2048":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/MTN-share-price.png","2048x2048-width":1080,"2048x2048-height":1080}},"flourish_chart_id":"","flourish_sub_title":"","flourish_chart_width":"medium","is_newsletter_post":"No","post_style":"owic","show_on_front":"Yes","link_through":"Yes","chart_url":"","background_colour":"#0089AA","text_colour":"#FFFFFF"},"_links":{"self":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/89050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/comments?post=89050"}],"version-history":[{"count":10,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/89050\/revisions"}],"predecessor-version":[{"id":89062,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/89050\/revisions\/89062"}],"wp:attachment":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/media?parent=89050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/categories?post=89050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/tags?post=89050"},{"taxonomy":"newsletter-post","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/newsletter-post?post=89050"},{"taxonomy":"site","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/site?post=89050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}