South Africa’s MTN Group has reported a sharp rise in service revenue for the nine months to September, with its African operations in Nigeria and Ghana driving double-digit growth despite currency headwinds.
In a trading update on Monday, Africa’s largest telecoms operator said group service revenue grew by 25.9%, supported by solid performances across its key markets.
Excluding the impact of currency fluctuations, underlying service revenue increased by 22.6%, underscoring resilient demand for voice, data and financial services across its 16-country footprint.
MTN Nigeria was the standout performer, delivering a 57.1% jump in service revenue, while MTN Ghana recorded a 35.9% increase, buoyed by easing inflationary pressures and more stable exchange rates in that market.
MTN South Africa posted a more modest 2% growth in service revenue, as gains in the post-paid and enterprise segments were tempered by intense competition and persistent pressure in the prepaid market.
The group said data revenue climbed 40%, powered by a rise in active data subscribers and robust usage, reflecting growing demand for mobile internet across the continent. Its fintech business also performed strongly, with revenue up 35.7%, as more customers embraced mobile money and digital financial services.
MTN disclosed that it invested 27.9 billion rand ($1.63 billion) in capital expenditure over the period to expand its commercial and network infrastructure, a move it said helped drive growth in data traffic and fintech transactions. Overall customer numbers rose 5% to 301 million across its markets.
Looking ahead, the company announced plans to scale up its AI-powered digital inclusion initiative in partnership with Microsoft across Africa from early 2026, as it seeks to deepen access to digital tools, services and connectivity for millions more users on the continent.
