Chamwe Kaira
Mobile Telecommunications Limited (MTC) has informed shareholders that it expects its profit after tax for the period ending 31 March 2025 to rise by between 10% and 17%.
Basic and headline earnings per share are also expected to increase by the same margin.
“The main contributors to the increase relate to revenue growth and cost control measures. This trading statement has not been reviewed by MTC’s external auditors. The unaudited financial results for the period ending 31 March 2025 are expected to be published on or about 6 June 2025,” the company said in a notice on the Namibian Stock Exchange.
On 14 November 2023, the Bank of Namibia granted MTC a licence to launch mobile financial services. MTC Maris, the fintech arm, went live on 4 October 2024. It aims to serve around 50% of Namibians who are unbanked or underbanked.
Customers can use their phones to send and receive money, make payments at stores, deposit and withdraw cash, and buy airtime, electricity, and water. MTC said it is developing more services, including lending and Bank of Namibia retail bonds, with strategic partners.
MTC Maris operates separately from MTC, with its own board, staff, and identity. It has a management contract with MTC and will be funded by MTC until it breaks even. MTC worked with Vodacom Financial Services to launch Maris as a fintech business. In 2024, key steps included rolling out the Maris platform, awarding a partner bank contract, and onboarding commercial partners, including Woermann Brock.
MTC’s total revenue rose by 5.9% to N$3.2 billion in 2024. The company invested N$715 million in capital projects, up from N$588 million in 2023. These focused on network upgrades, IT infrastructure, and fibre rollouts to support 5G, cloud computing, and Internet of Things services.
MTC said its financial position remained sound in 2024, with enough capacity to support growth and reward shareholders. At the end of the year, it paid out N$545 million in dividends.
