MTN reported strong revenue increases in four of its mobile money markets in the opening quarter of 2017.

The company’s Q1 earnings statement revealed rising revenues in Uganda, Ghana, Ivory Coast and Cameroon, but provided little in the way of detail on the actual amounts generated in those, or its other markets’, mobile money services.

Cameroon was its fastest growing market in terms of mobile money, with revenue up 390 per cent during the quarter. In Uganda, revenue was up 34 per cent quarter-on-quarter and accounted for 22 per cent of MTN’s total revenue in the country.

In Ghana, mobile money generated 13 per cent of the company’s overall earnings during Q1, while finance and payment services in Ivory Coast accounted for 33 per cent of total revenue.

Due to the lack of a breakdown of figures for MTN’s other markets or specific revenue information, it is difficult to assess the performance of the company’s mobile money services. Year-on-year comparisons were also not available.

The operator group provides mobile money services across 15 markets serving 22.2 million customers, according to the latest published figures on MTN’s website.

Commenting on the company’s overall Q1 performance, MTN Group CEO Rob Shuter said: “The Group continues to work towards achieving a vision to lead the delivery of a bold, new digital world to our customers. We will continue to leverage our scale and enhance our competitive position, benefiting from Africa’s low data penetration and the unique opportunity we have to offer customers a wide range of digital services across our markets.”