JOHANNESBURG, May 12 – Africa’s largest mobile network operator, MTN Group reported a 27.9% increase in first-quarter core earnings on Tuesday, as tighter cost controls and strong performances in key African markets boosted profitability.
The telecom operator said earnings before interest, tax, depreciation and amortisation rose to 27.6 billion rand ($1.67 billion) in constant currency for the three months ended March 31.
The company’s EBITDA margin expanded by three percentage points to 47.6%, reflecting improved operational efficiency and stronger revenue growth across major subsidiaries.
Group service revenue, excluding currency effects, increased 21.1% to 56.8 billion rand, supported primarily by strong performances in MTN Nigeria and MTN Ghana.
MTN Nigeria recorded service revenue growth of 41.7%, while MTN Ghana expanded 35.7%. Other major contributors included operations in Cameroon and Côte d’Ivoire, which posted growth of 14.4% and 18.3% respectively.
In South Africa, service revenue growth edged up 0.7% despite continued competitive pressure in the prepaid segment.
The company said its prepaid recovery strategy remains focused on strengthening distribution channels, refreshing product offerings and tightening credit management.
MTN added that the South African business is beginning to stabilise, with growth in cash recharges helping offset declines in XtraTime usage, a service allowing prepaid subscribers to borrow airtime and data.
Data services remained the largest contributor to overall revenue growth, increasing 35.4% during the quarter. Voice revenue rose 4.7%, while financial services revenue climbed 20%, underscoring the growing importance of fintech and digital payments across African telecom markets.
MTN also said it continues to monitor energy supply risks and is working with partners to secure sufficient diesel supply to support network operations amid ongoing energy market volatility.
The telecom giant operates across 16 African markets and serves more than 310 million customers across the continent.
