JOHANNESBERG, Mar 2 – MTN Group expects full year earnings to more than quadruple, supported by stronger performance in its Nigeria and Ghana operations, the company said in a statement on Monday.
The Johannesburg based telecom operator said it projects earnings per share between 10.62 rand and 11.68 rand for the 12 months ending December. The forecast compares with a loss recorded in the previous year.
The company said its largest markets, MTN Nigeria and MTN Ghana, reported improved profitability and revenue growth based on their latest full year results.
Nigeria and Ghana together account for more than 40 percent of the group’s revenue. MTN Nigeria reported a profit of 1.1 trillion naira ( $807 million) in 2025, compared with a loss in the prior year. The unit also raised its medium term guidance for earnings before interest, tax, depreciation, and amortisation, according to its earnings release on February 26.
Meanwhile, MTN Ghana recorded strong growth. The company said its net income increased by more than 50 percent in 2025.
Earlier, currency pressure weighed on performance. The depreciation of the naira reduced earnings during the 2024 financial year. However, improved currency stability has supported a recovery in Nigeria’s contribution to group profit.
At the same time, investor sentiment has strengthened. MTN shares have risen by nearly 80 percent over the past 12 months, giving the company a market value of about 381 billion rand ($23.7 billion).
