MTN Revenue Jumps 23% on Data and Fintech Growth

MTN Group has swung back to profit on the strength of its West African business, posting a 23% rise in service revenue for the year ended December 2025 and underscoring how data and mobile money continue to drive telecoms growth across Africa.

The Johannesburg-listed operator reported service revenue of roughly R218.5 billion, reversing a loss in 2024 and returning to profitability. Much of that turnaround came from Nigeria and Ghana, which emerged as the standout markets in MTN’s 16-country footprint.

MTN Nigeria delivered about 54.9% growth in service revenue in 2025, while MTN Ghana recorded around 35.9% growth. Together, they were the biggest contributors to the group’s improved performance and helped offset tougher conditions elsewhere.

Across its operations, MTN closed 2025 with more than 307 million voice subscribers. Of these, about 172 million were data users and roughly 70 million were mobile money customers, highlighting the group’s scale not only in connectivity but also in digital financial services.

Data consumption kept climbing. Overall network data traffic increased by 27% during the year, while average monthly usage per user reached 12.5GB. MTN said these gains were supported by capital expenditure of about R38 billion aimed at expanding network capacity and improving service quality in its markets.

Alongside its operating metrics, the group moved to sweeten returns to investors. It announced an enhanced shareholder remuneration framework that includes a share buyback programme of up to R6 billion and a 45% increase in dividends.

Beyond connectivity, MTN underlined the growing importance of its fintech ecosystem, particularly mobile money. The company processed more than 23 billion transactions on its platform in 2025, a 15% increase in transaction volumes year-on-year.

The total value of those transactions exceeded $500 billion, reflecting how deeply mobile money is now embedded in everyday payments and transfers for consumers and businesses across MTN’s markets. The group reiterated that digital payments and broader financial services remain central to its long-term strategy to expand financial inclusion in Africa.

By pairing network investment with fintech expansion, MTN is positioning itself not just as a telecoms operator but as a digital infrastructure and payments provider across the continent, with West Africa currently delivering the sharpest growth.