MTN Group Reports Strong Rebound Driven by Nigerian Growth
LAGOS, Nigeria – Telecommunications giant MTN Group has announced a significant financial recovery, largely fueled by a surge in its Nigerian operations. The company, a leading mobile telecommunications provider in Africa, reversed losses from 2024 with a strong performance across key markets.
MTN Nigeria reported a profit after tax of $786 million (R13.1 billion) – a dramatic turnaround from the $408 million (R6.8 billion) loss recorded the previous year. This growth is attributed to increased demand for data services and recent tariff adjustments. Revenue in Nigeria jumped 54.9% in constant currency.
Group-wide, MTN’s earnings before interest, tax, depreciation and amortization (EBITDA) reached approximately $5.91 billion (R98.5 billion), reflecting improved operational efficiency.
“The performance underscores effective execution and a more favourable operating environment,” said Ralph Mupita, Group President and Chief Executive Officer, in a statement. He also highlighted the company surpassing 300 million customers, emphasizing MTN’s commitment to expanding digital and financial inclusion.
Nigeria’s growth is linked to increasing smartphone adoption and rising consumer spending on data and digital services, which now represent over half of the country’s service revenue. The country is strategically vital to MTN, currently accounting for over a quarter of the Group’s service revenue and nearly one-third of its EBITDA.
While Nigeria demonstrates robust growth, MTN’s South African operations experienced slower gains, with service revenue increasing by only 2% due to a sluggish economy and increased competition. This shift highlights the growing importance of West African markets, particularly Nigeria and Ghana, to MTN’s overall earnings.
Analysts note that while this repositioning strengthens the Group’s growth potential, it also increases MTN’s vulnerability to Nigeria’s economic and regulatory conditions. MTN Group Limited is a South African multinational corporation [2]. The company is currently Nigeria’s number one 5G network provider [1].
