(Ecofin Agency) - Moov Africa Burkina Faso, the country's second-largest telecom operator by subscriber count, holds a market share of 42.91% as of the third quarter of 2023, contending closely with market leader Orange and Telecel.

In 2023, Moov Africa Burkina Faso (Onatel) reported a net income of CFA20.1 billion ($33.3 million), marking a 14% decrease from the CFA23.37 billion recorded in 2022. The subsidiary of Maroc Telecom cited several factors for the downturn in its annual report, including vandalism at sites within insecure zones, aggressive competition, and a decrease in prepaid voice services due to the rising use of over-the-top (OTT) services like Facebook and WhatsApp.

The report also highlighted a 4% drop in turnover, from CFA147.3 billion in 2022 to CFA140.7 billion. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) fell by 6% to CFA67.1 billion, though it maintained an EBITDA margin rate of 47.7%.

Despite these challenges, Moov Africa experienced a 5% growth in its customer base, reaching 11.7 million by the end of 2023. The company's internet subscriber base (both fixed and mobile) also saw an 11% increase, from around 6.5 million to 7.1 million. Mobile internet revenue grew by 15% year-over-year, while fiber optic revenues more than tripled.

Looking ahead to 2024, Moov Africa plans to continue its investment efforts with an ambitious program aimed at expanding and modernizing its mobile, internet, and high-speed network. The operator's strategy includes rehabilitating vandalized sites, diversifying its offer portfolio, restructuring and digitizing its sales force, boosting mobile activity as a growth lever, and enhancing visibility. These initiatives are expected not only to improve the company's financial performance but also to strengthen its position in Burkina Faso's telecom market.

According to data from the Electronic Communications and Postal Regulatory Authority (ARCEP), Moov Africa held a market share of 42.91% in the third quarter of 2023, with Orange and Telecel controlling 45.85% and 11.24% of the national mobile subscriber base, respectively.