MTN Group revenue jumps 23% as West Africa leads growth

17 March 2026

On Techpoint Digest, we discuss MTN revenue increasing by 23% as West Africa leads growth, Aboyeji believes startup failure is normal, and Lagos and Ogun drivers protest rising fuel costs.

MTN Group revenue jumps 23% as West Africa leads growth

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MTN revenue jumps 23% as West Africa leads growth

Startup failure is normal, says Aboyeji

Lagos, Ogun ride-hailing drivers protest rising fuel costs

MTN revenue jumps 23% as West Africa leads growth

MTN

MTN Group reported a strong financial performance for the year ended December 2025, bouncing back from a previous loss and returning to profitability. Service revenue climbed about 23% to roughly R218.5 billion, while profit rebounded significantly after a challenging 2024. Much of that growth came from MTN’s West African operations.

Nigeria was the standout performer. MTN Nigeria recorded about 54.9% growth in service revenue, while MTN Ghana posted around 35.9% growth, making the two markets the biggest contributors to the group’s recovery.

By the end of 2025, MTN said it served more than 307 million voice subscribers, including about 172 million data users and roughly 70 million mobile money customers across 16 markets. Data usage continued to rise rapidly, with overall data traffic increasing by 27% and average monthly consumption per user reaching 12.5GB. These gains were supported by capital expenditure of about R38 billion invested in expanding network capacity and improving service quality.

The company also highlighted significant growth in its fintech ecosystem, particularly through mobile money services. Transaction volumes on its platform increased by 15% during the year to more than 23 billion transactions, while the total value of those transactions exceeded $500 billion. MTN said the expansion of digital payments and financial services remains a key pillar of its strategy to deepen financial inclusion across Africa.

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Alongside its operational results, MTN announced an enhanced shareholder remuneration framework, including a share buyback programme of up to R6 billion and a 45% increase in dividends.

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