Investing in Cameroon – Mobile operator MTN Cameroon Mobile Money in this first half of 2018 seems to be one of the best telecommunications companies in Cameroon.
An analysis of the South African group MTN International's financial statements reveals that the number of customers active in its Mobile Money service subsidiary in Cameroon increased by 10.5% between December 2017 and June 2018, reaching 12 million customers.
Furthermore, we learn from the same source, the income reported by the MTN Mobile Money Cameroon (MoMo) grew by 404% between June 2017 and June 2018, strengthening the service's contribution to the company's overall turnover.
A further increase of MoMo's revenues in MTN cannot be excluded in the coming months, its competitor Orange, market leader in Mobile Money in the country (with over 2 million users), is developing strategies to readjust the price of this service, new prices may soon have a significant impact on its customer base, also to stem the great expansion of MTN.
As a reminder, according to the National Institute of Statistics (INS), MTN Mobile Money is the most used mobile phone payment service by Cameroonian companies, first when compared to other market players such as Orange Money and Afrikpay, a pan-African operator.
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