MTN’s IIG Expands 40-fold

By John Lee.

South African telco MTN has given an update on its operations in Iran.

In its financial results for the year ended 31 December 2016, the company said its MTN Irancell benefited from the country’s youthful demographics and higher smartphone penetration. Irancell is 51-percent owned by the state-owned Iran Electronic Industries.

Iran Internet Group (IIG), MTN’s Iranian e-commerce business, has become the largest business of its kind in Iran, and according to the company showed very strong growth across its portfolio of e-commerce companies, expanding 40 times in the period under review:

  • Zoodfood, a restaurant delivery service app, grew by 400% in 2016 to achieve 85% market share.
  • Snapp, a taxi hailing app with 85% market share, and an average of approximately 150 000 rides a day. It is the largest e-commerce company in Iran by revenue, in spite of being active only in Tehran. Expansion to other cities is currently under way.
  • Bamilo, Iran’s largest online mall and marketplace, grew 60% in the fourth quarter of 2016. It has over 250 000 stock keeping units and hosts 1 500 merchants with online stores.

(Sources: MTN,  Bourse and Bazaar)

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