MTN Group, Africa’s largest telecom operator, announced a 25.9% increase in its service revenue for the nine months to September 2025, a performance largely driven by its strong business in Nigeria and Ghana.

At the heart of MTN’s impressive results is MTN Nigeria, which delivered a striking 57.1% growth in service revenue over the period.

This boom reflects the vibrancy of Nigeria’s digital economy, where demand for data and fintech services is surging.

Key drivers of MTN’s growth:

Data revenue jumped by 40%, fueled by a rise in active data subscribers and stronger usage.

Fintech revenue climbed 35.7%, underlining the growing role of mobile money and digital financial services across MTN’s markets.

To support this growth, MTN invested 27.9 billion rand (about $1.63 billion) into infrastructure and capacity expansion.

MTN’s customer base expanded by 5%, bringing the group-wide total to 301 million users.

Importantly, MTN is planning to scale up its AI-powered digital inclusion initiative (in partnership with Microsoft) across Africa in early 2026, a move that could further deepen its presence in Nigeria’s tech ecosystem.

On the flip side, MTN’s home market, South Africa, saw only 2% service revenue growth, as gains in its postpaid and enterprise segments were weighed down by stiff competition in its prepaid business.

Why this matters for Nigeria:

Economic Significance: The 57.1% growth from MTN Nigeria shows that Nigeria is not just a major contributor but a growth engine for the entire MTN Group.

Digital Ecosystem Strength: Rising data and fintech revenues reflect how more Nigerians are using smartphones and mobile money, important for financial inclusion and digital innovation.

Investment Signal: MTN’s hefty capital investment suggests confidence in the Nigerian market’s long-term potential.

Strategic Leverage: The Microsoft-AI partnership could unlock new possibilities for digital education, productivity, and inclusion for Nigerian users.

[Source: Reuters]