MTN Group, Africa’s largest telecommunications operator, has returned to profitability, reporting a pre-tax profit of 47.4 billion rand (about $2.8 billion) for the latest financial year after posting a loss in the previous period, as reported by Reuters.
The turnaround was largely driven by strong growth in key markets including Nigeria and Ghana, where service revenues rose significantly. MTN’s Nigerian unit recorded revenue growth of nearly 55 percent, while its Ghanaian operations reported gains of about 36 percent, helping lift the group’s overall service revenue by 22.7 percent to 218.5 billion rand.
Growth in MTN’s home market of South Africa remained more modest, with service revenue rising by around 2 percent amid intense competition in the prepaid mobile segment and ongoing economic pressures.
Following the improved results, the company announced a 45 percent increase in its final dividend to 500 cents per share, reflecting stronger earnings momentum as demand for mobile data, digital services, and fintech offerings continues to expand across MTN’s markets in Africa and the Middle East.
