Africa’s telecom giant MTN dropped impressive numbers on Monday: service revenue for the first nine months of 2025 soared 25.9%, pushing the total subscriber count to 301 million – a solid 5% increase.
West Africa Steals the Show
Strip out currency swings and the underlying growth still hits a healthy 22.6%. Two markets carried the team on their backs:
- MTN Nigeria delivered a massive 57.1% surge
- MTN Ghana followed with 35.9%, helped by cooling inflation and a steadier cedi
- MTN South Africa lagged at just 2%, squeezed by brutal prepaid competition
Data & Fintech Are the New Cash Kings
- Data revenue exploded 40% as more users went online and consumed more gigs
- Fintech (MoMo and beyond) climbed 35.7% on the back of millions switching to digital wallets
To keep the engines running, MTN pumped R27.9 billion (about $1.63 billion) into towers, fibre, and systems money that’s already paying off in fatter data pipes and faster transactions.
What’s Next?
Early 2026 will see the rollout of MTN’s continent-wide AI-driven digital inclusion programme, designed to bring the next hundred million Africans online and into the formal economy.
Another strong quarter proves MTN still wears the crown – and it’s not done growing.
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