Less value accretive consolidation opportunities were now available, as the emerging market telecommunications sector continues to mature, MTN president and CEO Phuthuma Nhleko said on Thursday.

Speaking at the JSE-listed company’s annual general meeting, he said that while the group would continue to evaluate and consider value accretive opportunities, it would increase its focus on other areas, such as improving efficiencies and improving cash returns to shareholders.

It would look at optimising efficiencies, including infrastructure sharing, standardisation of systems and processes, rationalisation of suppliers and costs management.

The group, which on Thursday also announced a R8,1-billion black economic-empowerment deal, would continue to invest in fibre and cable infrastructure to keep up with the evolving voice and data requirements in the markets in which it operates.

Meanwhile, Nhleko highlighted that MTN had seen a 10% increase in its subscriber numbers for the first five months of this year, despite increasing competition in the markets in which it operates.

This positive subscriber growth translated to sound revenue growth and profitability in the various local currencies, he said, but added that the continuing strength of the rand had negatively impact on the translation of its foreign earnings, resulting in a marginal drop in rand reported revenue, compared with the first half of 2009.

More than 70% of the group’s revenue was generated outside of South Africa.

Further, Nhleko said that MTN’s capital expenditure had been lower in the first half of this year, but this was expected to increase in the next six months.

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