MTN Nigeria (MTNN), the local subsidiary of Africa’s largest mobile network operator MTN Plc, reported a sixfold surge in loss after tax to N519 billion in the first half of the year.
According to its earnings report issued on Wednesday, this represents its biggest half-year loss on record.
The loss for the six-month period is already roughly three times the loss it recorded for the whole of last year, complicating an ordeal dating back to the period Nigeria’s devaluation of the naira led to a massive foreign exchange loss for the wireless carrier.
