MTN Group, one of Africa’s foremost telecommunications companies, has recorded a notable uplift in both revenue and profitability for the third quarter of 2025. This performance, disclosed in a statement released on Monday, was primarily driven by solid operational outcomes in Nigeria, Ghana and other international markets, even as the group continues to navigate headwinds in its home market of South Africa.
The Johannesburg-based company reported third-quarter revenue of 56.86 billion South African rand, equivalent to approximately 3.33 billion US dollars. This figure marks a significant increase from the 44.77 billion rand registered during the same period in 2024, prior to adjustments for hyperinflation, which remains a critical accounting consideration for operations in certain African jurisdictions.
Service revenue, a central indicator for the telecommunications sector given its focus on core network services, rose to 54.84 billion rand from 42.43 billion rand year on year. This growth reflects the group’s strategic commitment to expanding its data and fintech services across key growth markets, particularly in West Africa.
MTN Group also reported an improvement in its earnings before interest, taxes, depreciation and amortisation margin, excluding one-off items, which rose to 46 per cent in the quarter. This compares with a margin of 37.5 per cent in the third quarter of the previous year. The enhanced margin underscores improved cost discipline and revenue scalability across its regional operations, particularly where mobile money and digital services have seen accelerated adoption.
Performance in Nigeria and Ghana remained pivotal to the group’s overall earnings trajectory. In Nigeria, Africa’s largest telecommunications market by subscriber base, MTN has resumed dividend payments following a period of regulatory scrutiny and economic constraints. The move is expected to restore investor confidence in the group’s West African operations and signals improving cash flow stability.
Ghana also continued to perform strongly, benefitting from rising data consumption and a favourable regulatory environment that supports mobile network expansion and digital inclusion efforts. These developments contrast with the performance in South Africa, where the group continues to face pressure in its prepaid mobile segment. MTN reiterated that efforts to rejuvenate this part of the business remain a priority, with a focus on affordability, customer experience and broader access to services.
The group’s continued expansion into fintech services remains a cornerstone of its broader strategy to transition from a traditional telecoms provider to a platform-focused tech company. Its mobile money services, which enable millions across the continent to transact in economies where banking infrastructure remains underdeveloped, are increasingly viewed as a lever for financial inclusion and economic participation.
Despite prevailing macroeconomic and foreign exchange volatility in several of its markets, MTN Group has demonstrated resilience and adaptability in its operational strategy. It continues to advocate for regulatory frameworks that support sustainable infrastructure investment and digital innovation, positioning itself as a key stakeholder in Africa’s evolving digital economy.
MTN’s quarterly performance is emblematic of a broader narrative around African corporate resilience and regional interdependence. As multinationals operating on the continent continue to diversify revenue streams and localise operations, the continent’s economic future becomes increasingly shaped by African-led entities with deep roots and long-term commitments to inclusive growth.
The results also raise broader questions around the complexities of operating across varied political and economic environments in Africa, where regulatory unpredictability, currency devaluation and infrastructure constraints coexist with rapid urbanisation, digital transformation and demographic dynamism.
With its pan African footprint, MTN Group remains central to the continent’s digital evolution. Its financial performance this quarter is not merely a reflection of corporate success but a lens through which the possibilities of African-led innovation and connectivity are both reframed and reaffirmed.
