MTN Group saw a 10.4% rise in service revenue for the first quarter of 2025, with a notable 19.8% growth in constant currency terms, driven by impressive performances from its operations in Nigeria and Ghana.
MTN Nigeria led the charge with a robust 40.4% increase in revenue, while MTN Ghana saw a 39.5% growth. The company also recorded a 33% jump in core profit (EBITDA) for the quarter ending in March, fueled by strong service revenue, lower device sales costs in South Africa, and a relatively stable economic environment.
MTN’s EBITDA margin improved by 5.3 percentage points to 44.1%, although the company did not specify the absolute value.
While Nigeria and Ghana saw double-digit growth, MTN South Africa faced challenges, with service revenue rising only 2.6%. This slower growth was attributed to a competitive prepaid market and a value-seeking consumer base amidst slow economic conditions.
To address operational challenges in South Africa, MTN is exploring a potential energy collaboration with rival Vodacom to tackle power supply issues critical for maintaining reliable network operations in the country.
Additionally, MTN’s CEO Ralph Mupita outlined the company’s strategy to expand enterprise services by collaborating with low-earth orbit (LEO) satellite providers. MTN is working with companies like Starlink, OneWeb (Eutelsat), AST & Science, and Lynk to extend satellite connectivity, although further details were not disclosed.
MTN’s strong first-quarter performance underscores its continued success in key African markets and its focus on innovation and infrastructure resilience.
