South Africa’s MTN has reported a 25.9% rise in service revenue for the nine months to September, driven by strong performances in Nigeria and Ghana.
Excluding currency fluctuations, group service revenue increased by 22.6%. MTN Nigeria led growth with a 57.1% rise in service revenue, while MTN Ghana rose 35.9%, supported by lower inflation and more stable exchange rates.
MTN South Africa saw a slower growth of 2% as gains in post-paid and enterprise were offset by continued pressure in a highly competitive prepaid market.
Data revenue increased by 40%, driven by an expansion of active data subscribers and strong demand, while Fintech revenue rose 35.7%.
The company has invested 27.9 billion rand ($1.63 billion) in capital expenditure to help expand its commercial business, driving growth in data traffic and fintech transactions. Customer numbers grew 5% to 301 million.
MTN plans to expand its AI-powered digital inclusion initiative with Microsoft across Africa in early 2026.
