This, as the telecommunications giant crossed the milestone of 300 million customers for the first time.
In its latest quarterly trading update, MTN reported service revenue growth of 22.6% in constant currency, supported by improved macroeconomic conditions, easing inflationary pressures and relative currency stability in key markets such as Nigeria, Ghana and South Africa (SA).
Mupita said the Group’s performance reflected disciplined execution of its long-term strategy and continued investment in digital infrastructure. The strongest momentum came from MTN Nigeria and MTN Ghana, which delivered service revenue growth of 57.1% and 35.9% respectively.
Nigeria’s recovery was particularly notable, with the operation restoring positive retained earnings and resuming dividend payments. Improved foreign-exchange liquidity, a stabilising naira and strong demand for data contributed to its turnaround.
Across the Group, data revenue grew by 35.4% as active data users increased to 165.8 million, while data traffic rose by 26.6%. MTN also reported continued expansion of its fintech ecosystem, with fintech revenue rising by 23.1% and the value of transactions processed through MoMo reaching $342.3 billion.
In Southern and East Africa, markets such as Uganda, Rwanda and Zambia delivered solid growth, with the region recording a 22% rise in service revenue. MTN Ghana remained one of the Group’s standout performers, benefitting from network investment and rising demand for data, digital services and mobile financial services.
SA, however, recorded modest service revenue growth of 2%, constrained by intense competition in the prepaid segment. MTN said it would accelerate efforts to improve prepaid performance while continuing to scale fixed-wireless and fibre offerings in its Home connectivity portfolio.
Looking ahead, Mupita said MTN would maintain disciplined capital allocation and continue integrating artificial intelligence solutions across its services. The Group plans to roll out its new artificial intelligence-powered digital education partnership with Microsoft from early 2026.
Despite competitive pressures in several markets, MTN expects sustained growth into the fourth quarter, supported by a healthier balance sheet, stable operating environments and rising demand for digital and fintech services across Africa.
–ChannelAfrica–
