Africa’s leading telecom operator, MTN Group, has reported a strong turnaround in its full-year financial performance, driven largely by robust growth in its Nigerian and Ghanaian markets, which together contribute more than 40 per cent of total group revenue.
The Johannesburg-based telco projected headline earnings per share of between 10.62 rand and 11.68 rand for the year ending December, marking a significant recovery from losses recorded in 2024. MTN currently operates across 18 markets in Africa and the Middle East.
According to the company, its largest subsidiaries—MTN Nigeria and MTN Ghana—delivered strong full-year results, underpinned by sustained revenue growth and improved operational efficiency.
“In our larger operations, MTN Nigeria and MTN Ghana delivered robust results in their full-year earnings releases,” the company said. “Improved revenue growth supported a return to profitability, reinforcing their strategic importance to the group.”
MTN Nigeria, with a subscriber base of 87.3 million, posted a profit after tax of N1.1 trillion in 2025, a sharp reversal from a loss of N400.4 billion recorded in 2024. The company’s fourth-quarter pre-tax profit surged by 248.8 per cent to N569.6 billion, driven by strong revenue growth, margin expansion, and improved foreign exchange conditions.
Similarly, MTN Ghana recorded a 55.9 per cent increase in profit after tax, reaching GHS7.8 billion in 2025, up from GHS5.03 billion in the previous year. Its fourth-quarter profit stood at GHS2.35 billion, while revenue rose 36 per cent year-on-year to GHS7.03 billion, largely fueled by data demand.
The Ghanaian unit also expanded its subscriber base to 31.2 million by year-end, adding 2.6 million new users during the year.
The performance highlights the growing significance of West Africa in MTN’s overall strategy, as rising data consumption and improved economic conditions continue to support revenue growth and profitability across key markets.
