MTN Group has announced a R6 billion ($375 million) share repurchase programme following strong first-half 2026 earnings. The telco giant reaffirmed its medium-term targets and capital deployment strategy.
The board approved the execution of the 31-million-share buyback within its interim financial statements released on Monday, August 24, 2026. Management linked the capital return directly to its Ambition 2030 framework.
Service revenue expanded 17.5% in constant currency to R115 billion ($6.4 billion), while EBITDA grew 24.4% to R56 billion. Top-line growth was anchored by strong data demand across key operations.
The capital distribution via share repurchases replaces an interim cash dividend for the period. Board executives cited sustained balance sheet flexibility and operating free cash flow, which grew 27.5% to R25.1 billion.
Subscribers reached 317.7 million across 19 African and Middle Eastern markets. Data traffic surged nearly 23% to 14.3 petabytes, driven by 179.3 million active data accounts.
Fintech ecosystem volumes rose 17.2% to 13 billion transactions. Mobile Money (MoMo) monthly active users hit 70.8 million, processing a combined transaction value of $330 billion during the six-month period.
Operational expansion continued alongside structural reforms across its subsidiaries. Nigeria’s competition regulator granted conditional approval for MTN’s acquisition of the remaining stake in IHS Holdings.
Adjusted Headline Earnings Per Share (HEPS) rose 21.3% to 793 cents. However, reported HEPS slipped 5.8% to 615 cents following non-cash impairments in Irancell and currency headwinds in South Sudan.
The capital return aligns with regional peer strategies, as telecom operators pivot toward infrastructure consolidation and cash extraction. Capital expenditure for the group reached R19.7 billion in the half-year.
