Lagos– Africa’s telecommunications giant MTN Group (MTNJ.J) returned to a position of significant profitability on Monday, reporting an annual profit before tax of 47.4 billion rand ($2.81 billion) for the 2025 financial year.
This performance represents a sharp turnaround from the prior year’s losses, which were largely driven by severe currency devaluations in key markets. The group’s recovery was underpinned by a 22.7% increase in service revenue on a constant currency basis, reaching 218.5 billion rand, as demand for data and mobile financial services surged across the continent.
The results were heavily supported by performances in West Africa. MTN Nigeria (MTN.NG) remained the group’s largest revenue driver, posting a 54.9% surge in service revenue in local currency terms, effectively navigating high regional inflation through increased data penetration and tariff adjustments.
Similarly, MTN Ghana (MTN.GH) delivered a robust 35.9% increase in service revenue, bolstered by the rapid scaling of its MoMo fintech ecosystem. Meanwhile, MTN South Africa maintained a steady 2.0% growth, demonstrating resilience despite a highly competitive and mature domestic market.
Group CEO Ralph Mupita attributed the swing to profit to disciplined execution and a strategic focus on stabilizing the balance sheet. With the group surpassing the 300 million subscriber milestone for the first time, total customers now sit at 307.2 million.
This operational strength allowed the board to declare a final dividend of 500 cents per share, a 45% increase from the previous year. Looking ahead, the company has officially transitioned to its “Ambition 2030” strategy, which includes a 6 billion rand share buyback programme and a continued push to decouple its fiber and fintech businesses to unlock further shareholder value.
