MTN Group says data is now firmly driving its growth, with data revenue climbing 40.3% in the third quarter of 2025 even as traditional voice services continue to decelerate, rising only 10% year-on-year across its markets. The shift reflects a clear change in customer behaviour, with MTN’s 301 million subscribers increasingly opting for mobile internet and digital communication platforms over conventional voice calls.
Nigeria and Ghana power revenue growth
Overall Group service revenue grew 25.9%, supported by strong performances in MTN Nigeria (up 57% in constant currency) and MTN Ghana (up 35.9%). A key highlight for the period was MTN Nigeria’s return to a positive retained income and net equity position, along with its decision to resume dividend payments after declaring an interim payout.
South Africa records modest gains
MTN South Africa reported a modest 2% increase in service revenue. The company said prepaid remains under pressure due to heightened competition, although postpaid and enterprise segments performed steadily.
Data traffic and fintech maintain momentum
The Group’s data traffic surged 26.6% to 17 876 petabytes, while active data subscribers rose 9.1% to 165.8 million. Fintech also continued expanding. Mobile Money monthly active users reached 64.3 million, and transaction values increased 38% to US$342.3 billion.
CEO: Improved macro conditions boosting performance
MTN Group President and CEO Ralph Mupita said the results were supported by easing inflation and greater currency stability across key markets. “We are particularly pleased to have crossed a formative milestone in connecting over 300 million customers,” he said. “Our focus remains on delivering digital solutions that drive Africa’s progress.”
Outlook
MTN plans to continue significant investment in network expansion and digital platforms, with capex at R27.9 billion year-to-date. The Group has also partnered with Microsoft to roll out AI-powered learning and productivity tools across select African markets from early 2026. MTN says it aims to maintain momentum in fast-growing markets like Nigeria and Ghana while working to revive prepaid performance in South Africa.
