South African telecommunications giant MTN reported a 26% increase in service revenue for the latest reporting period, driven primarily by strong performance in Nigeria and Ghana, according to figures from Business Insider Africa.
The company’s financial statement highlighted that growth in mobile data, fintech services, and digital offerings in its West African markets underpinned the overall revenue expansion. “Our strategic focus on digital and financial services continues to deliver results, particularly in high-growth markets like Nigeria and Ghana,” said MTN Group CEO, Ralph Mupita, in a press release cited by Reuters.
Analysts told Bloomberg that MTN’s robust growth reflects resilience in Africa’s telecom sector despite currency volatility and regulatory pressures. The expansion in key markets positions MTN to capitalize on increasing mobile penetration and demand for data-driven services.
Figures from Financial Times also noted that the company is accelerating investment in network infrastructure to support rising subscriber numbers and enhance service quality, particularly in urban centers across West Africa.
