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MTN has reported strong financial and operational performance for the first half of 2025, with service revenue rising 22.4 per cent on the back of double-digit growth in its key markets of Nigeria and Ghana.
The pan-African telecom firm, which serves about 298 million customers across 16 markets, said the Group revenue climbed 23.2 per cent year-on-year to R105.1 billion on a reported basis, while data and fintech services further polished the growth.
In the results released yesterday, data revenue surged 36.5 per cent while fintech revenue rose 37.3 per cent, reflecting rising demand for digital services. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 60.6 per cent to R46.7 billion, pushing EBITDA margins to 44.2 per cent in constant currency.
MTN Group President and CEO, Ralph Mupita, said the performance highlighted “the resilience, progress and momentum” of the telecoms group’s business.
“We are encouraged by the acceleration in our topline and the recovery in our profitability and free cash flow generation,” Mupita said, adding, “MTN Group has raised its medium-term guidance for service revenue growth to ‘at least high-teens’ from ‘at least mid-teens.”
Mupita said MTN Nigeria and MTN Ghana showed high performances, delivering service revenue growth of 54.1 per cent and 39.9 per cent, respectively. Both markets benefit from more stable macroeconomic conditions, with the Naira and Cedi showing improved performance against major currencies compared to late 2024.
The MTN Group CEO said that price adjustments in Nigeria, phased in during the period, boosted revenue expansion in its largest market. Across the Group, subscribers rose 4.7 per cent to 297.7 million, with active data users increasing 10.3 per cent to 164.4 million. Mobile Money (MoMo) monthly active users edged up 1.7 per cent to 63.2 million, with transaction volumes rising 14.5 per cent to 11.1 billion in the first half.
Data traffic grew 29.1 per cent to 11.7 terabytes, reflecting continued strong demand for broadband services across MTN’s footprint.
MEANWHILE, the Group has handed MTN Nigeria’s CEO, Karl Toriola, more executive roles, which are targeted at accelerating the telecom giant’s “Ambition 2025” strategy.
Specifically, from November 1, 2025, Toriola will assume additional responsibilities as Vice President of Francophone Africa, overseeing operations in Cameroon, Côte d’Ivoire, Benin, and Congo Brazzaville while retaining his position as head of Nigeria’s largest telecom operator.
MTN Group said: “He will assume this revised role as CEO of MTN Nigeria and VP of Francophone Africa, given his prior extensive experience in the role.”
The move reflected MTN’s bid to consolidate growth across key African markets and leverage Toriola’s extensive regional experience.
The leadership realignment is part of MTN’s efforts to streamline operations around three core platforms: Connectivity, Fintech, and Digital Infrastructure, to drive growth beyond 2025.
Group President and CEO, Ralph Mupita, said the changes will “support the accelerated execution of our strategy as well as greater value creation for stakeholders over the medium term.”
As part of the reshuffle, Ferdi Moolman, currently MTN Group Chief Risk Officer and former CEO of MTN Nigeria, will return to the spotlight as CEO of MTN South Africa, succeeding Charles Molapisi.
“Ferdi has held several senior roles within the Group, including CEO of MTN Nigeria from 2016 to 2021. Consequently, he will step down from the MTN Nigeria board effective October 31, 2025,” the Group stated.
Molapisi, in turn, reverts to his previous role as Group Chief Technology and Information Officer (GCTIO) with an expanded mandate to accelerate AI adoption across MTN’s operations.
In South Africa, MTN also appointed Yolanda Cuba as Deputy CEO and Executive Director of MTN SA.
Meanwhile, Ebenezer Asante, Senior Vice President of Markets, will now head Ghana and Southern and East Africa operations, covering nine countries.
Further, the firm informed that Tsholofelo Molefe, Group CFO, is expanding her responsibilities to cover mergers and acquisitions, while Mazen Mroué will focus exclusively on Digital Infrastructure, including fibre rollout, data centre expansion, and partnerships with satellite operators.
To consolidate strategy and commercial operations, Selorm Adadevoh will now serve as Group Chief Commercial, Strategy and Transformation Officer, while Chika Ekeji steps down from the executive committee to drive emerging businesses.
For the future, MTN announced a governance transition at its South African subsidiary. Sindisiwe Mabaso-Koyana will succeed Mike Harper as Chairperson of MTN SA in Q1 2026, following Harper’s planned retirement after a decade of leadership.
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