MTN Group reported strong operational and financial results for 2025, driven by accelerated data usage and financial services adoption across its African markets, while increasing its dividend and outlining a new long-term growth strategy.
The Johannesburg-based telecommunications company said service revenue rose nearly a quarter to 218 billion rand ($11.7 billion), supported by improved macroeconomic conditions and strong performances in key markets including Nigeria and Ghana.
“The Group’s overall performance in 2025 was excellent. In the final year of our Ambition 2025 strategy, we were proud to have exceeded the 300 million customers milestone in line with our priority to deepen digital and financial inclusion,” said Ralph Mupita, president and chief executive officer of MTN.
The company served more than 307 million voice customers, 172 million data users and 70 million mobile money customers across 16 markets as of Dec. 31, after investing 38 billion rand in network infrastructure to expand coverage and improve service quality.
Growth in digital connectivity remained a key driver. Data traffic rose 27% during the year, while average monthly data consumption per user increased to 12.5 gigabytes from 10.8 gigabytes. MTN’s fintech platform also expanded significantly, helping increase the number of transactions by 15% to more than 23 billion. The total value of transactions processed on the platform exceeded $500 billion.
Performance was led by the group’s West African operations. MTN Nigeria and MTN Ghana recorded service revenue growth of 54.9% and 35.9% respectively in constant-currency terms, while MTN South Africa reported a 2% increase as it navigated a more mature and competitive market. Earnings before interest, tax and amortisation, excluding once-off items, rose to 98.5 billion rand, up more than a third in constant currency. Expense efficiencies contributed savings of 3.6 billion rand during the year.
Basic earnings per share returned to profit in 2025 after a loss the previous year, while adjusted headline earnings per share increased 67%.
The group declared a dividend of 500 cents per share, up from 345 cents in 2024 and above the minimum 370 cents previously guided by its board. MTN also introduced a new shareholder remuneration framework, including a 6 billion rand share buyback programme.
Alongside the results, MTN announced an evolution of its strategy beyond Ambition 2025, launching Ambition 2030, which will focus on three core platforms: connectivity, fintech and digital infrastructure.
“We are hugely excited about Africa’s potential and are well positioned to leverage our scale, footprint and brand leadership to capture the significant structural growth opportunities identified. We are committed to accelerate our impact and empower the people, businesses and nation states we serve,” Mupita said.
The company said it contributed about 150 billion rand in economic and social value across Africa during the year, expanded broadband coverage to more than 94% of the population and reduced the average cost of data by 14% for customers.
MTN said it remains cautious about global geopolitical risks but believes its new Ambition 2030 framework positions the company to sustain growth as demand for digital connectivity and financial services expands across the continent.
