MTN Group has reported a robust set of operational and financial results for the 2025 financial year, marking a strong close to its Ambition 2025 strategy while laying the groundwork for its next growth chapter under the newly unveiled Ambition 2030 framework.
The Group delivered standout commercial performances led by MTN Nigeria and MTN Ghana, a resilient showing from MTN South Africa, healthy free cash flow generation, and improved returns — capped by a 45% surge in its dividend payout. MTN also announced a R6 billion share buyback programme as part of an enhanced shareholder remuneration framework, and reaffirmed its medium-term guidance with updated return and leverage metrics.
A Continental Footprint in Full Growth Mode
Across its 16 markets at 31 December 2025, MTN served more than 307 million voice customers, 172 million data subscribers, and 70 million Mobile Money users — growth underpinned by disciplined commercial execution and a sustained R38 billion investment into network capacity, coverage, and platform quality.
Data traffic accelerated sharply, rising 27% over the year, with average monthly data consumption per customer climbing from 10.8GB to 12.5GB. On the fintech side, MTN’s mobile money ecosystem continued to scale, processing more than 23 billion transactions — a 15% volume increase year-on-year — with total transaction value surpassing US$500 billion.
The Group also delivered on its shared value commitments, contributing approximately R150 billion in economic and social value across Africa, extending broadband coverage to more than 94% of the continent’s population, and cutting the average cost of data for customers by 14%.
Financial Performance: Revenue Surges, Losses Reversed
Improved macroeconomic conditions across key markets helped MTN grow Group service revenue by nearly a quarter to R218 billion. In constant-currency terms, MTN Nigeria lifted service revenue by 54.9% and MTN Ghana by 35.9% — both announcing their figures in late February.
MTN South Africa posted a more modest but steady 2.0% service revenue growth, reflecting its operational resilience within a mature and competitive landscape. Earnings before interest, tax, and amortisation — before once-off items — reached R98.5 billion, up by more than a third in constant currency, supported by R3.6 billion in expense efficiencies.
In a significant turnaround, basic earnings per share swung from a loss in 2024 to a profit in 2025, with adjusted headline EPS rising 67%. The Board declared a dividend of 500 cents per share, up from 345 cents in 2024 — comfortably ahead of the minimum 370 cents it had projected.
MTN And UNHCR Are Bridging The Digital Divide For Displaced Communities
Beyond the financials, MTN used the results to announce a strategic evolution. Ambition 2030 reorganises the Group’s execution around three core platforms — Connectivity, Fintech, and Digital Infrastructure — targeting consumers, homes, and businesses across Africa. The strategy places customer experience at the centre, with artificial intelligence identified as a key lever for growth and value creation.
Speaking on the outlook, Group CEO Ralph Mupita acknowledged the fluid global geopolitical environment but expressed confidence that Ambition 2030 provides the right framework to sustain MTN’s medium-term growth and value-creation trajectory.
“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.”