MBABANE:MTN Eswatini is allegedly facing a drastic decline in revenue after the emergence of Eswatini Mobile, INSTACASH and other companies providing services that were exclusively provided by the mobile company.
The services include Mobile Money(MoMo) now slowly being dominated by INSTACASH with Eswatini Mobile also having a stake in the provision of mobile data.
The information suggesting that “MTN Eswatini is facing a decline in revenue” was leaked to this publication after officials from MTN Foundation informed one of the Corporate Social Investment(CSI) beneficiaries that, the mobile company might soon reduce funding for social programs as the company faces a drastic decline in revenue after the emergence of other companies in the market.
Efforts to reach MTN Eswatini Spokesperson Thandiwe Mashinini proved unsuccessful at the time of compiling this report, she was called several times in vain.
Responding to this Swaziland News on Saturday evening Sydney Sichula, the Eswatini Mobile Chief Executive Officer(CEO) said, “their mobile company is performing well these days in terms of revenue”adding that, they invested more in marketing and customer service.
“On our end we are seeing growth, remember that the players were few and now, with additional players, that changes the dynamics. From our end we have been seeing revenue growing month-by-month and last month, we actually broke the record and this month we are about to break another record in terms of revenue growth. Then if revenue is growing on our side, that can only mean one thing, the player that has been in the market for a long time might be struggling”, he said.
The Eswatini Mobile CEO said, they invested and continue to invest in marketing and customer service and as a result, the “customers are beginning to switch to Eswatini Mobile” to enjoy affordable internet services.
“We also invested in activations known as “Siyabangena” just to attract more customers”, said the Eswatini Mobile CEO.
Efforts to seek a comment from Wanderport internet providers proved unsuccessful at the time of compiling this report.
Reached for comments by this publication, INSTACASH Commercial Manager Bongani Dube said, their company was still new in the Mobile Money industry and therefore, not a factor in the market dynamics.
“We are still a very new and small player in the mobile money industry, and honestly, we are not a factor in the market dynamics currently. We are still on a customer acquisition and brand awareness phase. Of course, we have big ambitions but it’s a long term project. Focus on revenue assurance and growth would be the next phase in the mid to long term,” said the INSTACASH Commercial Manager.
MTN Eswatini Headquarters(pic: MTN).