MTN Posts 25.9% Revenue Surge on Strong Nigeria, Ghana Growth

MTN Group reported a 25.9% rise in service revenue for the first nine months of 2025, lifted by strong performances in Nigeria and Ghana.

Africa’s largest mobile operator, with more than 300 million customers across 16 markets, said group service revenue grew 22.6% when adjusted for currency movements.

MTN Nigeria remained the company’s standout performer, posting a 57.1% surge in service revenue, while MTN Ghana recorded 35.9% growth, supported by easing inflation and a more stable exchange rate environment.

The Group’s South African unit delivered more modest growth of 2%, as gains in post-paid and enterprise services were offset by persistent pressure in the highly competitive prepaid segment.

Across the business, data revenue climbed 40%, driven by an increase in active data customers and continued demand for high-speed services. Fintech revenue grew 35.7%, reflecting higher transaction volumes and broader adoption of mobile financial services.

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MTN said it invested 27.9 billion rand ($1.63 billion) in capital expenditure over the period to support network expansion and growth in its commercial operations. The spending has fuelled increased data traffic and rising fintech usage across key markets.

The Group’s customer base rose 5% to 301 million. Looking ahead, MTN will be rolling out its AI-powered digital inclusion initiative with Microsoft in early 2026, expanding access to productivity and learning tools across its footprint.