• MTN Group reached 301.3 million customers across 16 markets, highlighting its expansive footprint in Africa.
• Fintech transaction value surged 38.0% to US$342.3 billion, reflecting rapid adoption of digital financial services.
• EBITDA margin increased to 45.0%, with service revenue growing 25.9%, underscoring strong operational performance and broad-based growth across MTN’s markets.

MTN Group surpassed 301.3 million customers across 16 markets in the third quarter of 2025, it announced in its Quarterly update for the period ended 30 September 2025, published November 17. The group reported a strong 38.0% increase in fintech transaction value, reaching US$342.3 billion, highlighting robust engagement with digital financial services. Additionally, MTN expanded its EBITDA margin to 45.0%, reflecting improved operational efficiency and profitability. Service revenue grew by 25.9%.

“We are particularly pleased to have crossed a formative milestone in connecting over 300 million customers across our markets. MTN is grateful for the ongoing trust of all our customers, the partnership of our suppliers and broader stakeholders, as well as the commitment of our staff to get to this achievement,” the Group said.

MTN Nigeria’s service revenue soared 57.1% YoY, and fintech revenue increased 72.3%. The company restored positive retained earnings and net equity, enabling it to resume dividend payments. Customers in Nigeria totaled 85.4 million, with active data users reaching 51.1 million, driven by network investments and CVM initiatives.

MTN Ghana also contributed a 35.9% increase in service revenue, driven by capital expenditure (capex) deployment to enhance network quality. The total number of customers grew to 30.5 million, and fintech revenue increased by 36.8%, with solid growth in both basic and advanced mobile money services.

The Southern and East Africa (SEA) region experienced 22.0% service revenue growth, with active data subscribers rising 15.2%. MTN Uganda showed resilience despite regulatory challenges, and the turnaround of MTN Rwanda and MTN Zambia continued. The West and Central Africa region saw 17.1% revenue growth, driven by Ghana, Cameroon, and Côte d'Ivoire's successes. The Middle East and North Africa (MENA) region improved, led by MTN Sudan's recovery and significant revenue growth.

MTN South Africa faced intense competition but maintained network leadership with a 2.0% service revenue increase, driven by growth in postpaid and enterprise segments. Data revenue rose 5.0%, supported by higher average data usage and an expanding customer base.

MTN’s fintech ecosystem remains a critical growth driver, with total transaction volumes increasing 13.9% to 16.9 billion and value up 38.0% to US$342.3 billion. Mobile Money (MoMo) monthly active users grew by 5.3% to 64.3 million, with active agents and merchants increasing by 16.3% and 8.2%, respectively. The group is focused on enhancing merchant retention and transactional segmentation to deepen its payment ecosystem.

Financially, the group reported a strong balance sheet, with net debt-to-EBITDA improving to 0.4x and continued healthy cash flows. A targeted capital expenditure of R33-38 billion (US$1.7 billion to US$2 billion) is planned for 2025 to support growth ambitions and digital infrastructure expansion.

The group is focused on revitalizing the prepaid segment in South Africa while sustaining strong momentum in Nigeria and Ghana, alongside ongoing turnarounds in other markets within its footprint. It remains committed to accelerating growth in mobile money services and expanding its fintech ecosystem across all markets.

Hikmatu Bilali