MTN Nigeria’s service revenue growth recovered to 19.7% in the third quarter after a second-quarter slump.
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CEO Ferdi Moolman says MTN’s home market shares almost none of the economics of its other operations.
Second-quarter service revenue grew just 13.2% as tariff base effects washed out and airtime lending collapsed.
The deal makes MTN the second major South African operator to lean on the Chinese fintech giant for its super-app ambitions.
MTN Group has swung from a loss to a profit as Nigeria and Ghana drove a 67% surge in earnings.
MTN Ghana has posted a strong set of annual results, adding to the momentum from MTN Nigeria’s dramatic turnaround.
MTN Nigeria has reported a dramatic reversal in fortunes, swinging to a profit after tax of ₦1.1-trillion.
Stable electricity supply and an enabling macroeconomic environment have laid the groundwork for the sector’s continued growth in 2026.
MTN plans a strategic push into East Africa to rebalance its footprint and spur growth, according to its group CEO.
MTN’s international operations are outperforming its home market of South Africa, where it is facing stiff competition.