JOHANNESBURG, Mar 16 – Africa’s largest wireless carrier, MTN Group reported a strong turnaround in its financial performance, posting a pre-tax profit of 47.4 billion rand ($2.81 billion) for the latest financial year.
The telecommunications operator, headquartered in South Africa, had previously recorded a restated pre-tax loss of 4.1 billion rand in 2024.
The recovery was largely driven by strong operating performance in key markets including Nigeria and Ghana, where the company reported significant growth in service revenue.
According to the company, total service revenue increased by 22.7% to 218.5 billion rand in the year ended December 31.
Revenue growth was particularly strong in Nigeria and Ghana, where service revenue expanded by 54.9% and 35.9% respectively.
However, performance in MTN’s home market remained more modest. The company’s South African operations recorded overall service revenue growth of about 2%, reflecting ongoing competitive pressures in the prepaid mobile segment.
Despite the mixed regional performance, MTN announced a final dividend of 500 cents per share, representing a 45% increase from the previous year.
The results highlight the growing importance of MTN’s West African markets, which continue to drive much of the group’s revenue and profitability.
