MTN hikes contract subscription after awarding CEO R42-million
By Staff Writer | 30 Mar 2019 at 21:57hrs
MTN has announced that it will be updating its subscription prices from 1 May 2019. The price hikes will affect contract customers.
The price hikes were announced just after MTN Group released its Integrated Report for the year ended 31 December 2018, detailing how much its executives get paid.
MTN Group CEO Rob Shuter took home a total package of R42.9 million in 2018, which was made up of a R15.2-million salary and a R25.2-million bonus. Ralph Mupita, Group CFO, was also well compensated, taking home a salary of R8.2 million and a bonus of R12.7 million for the year.
"In the past few years, MTN has worked to avoid increases to its subscription pricing – however, sustained inflationary pressures and increased input costs have meant price adjustments have become unavoidable," said MTN.
"There will be an increase of approximately 4% and in some instances it will be slightly more, to align to market-related pricing."
Itemised billing and caller line identity (CLI) subscriptions will also increase by 4%.
The company added that select My MTNChoice Flexi price plans inclusive contract value will also change to "align to the new subscription price from the 1st of June 2019".
MTN said that it has invested heavily in its network to offer customers "the speeds and coverage we know you expect".