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MTN Group President and Chief Executive Officer Ralph Mupita urged governments across Africa to consider harmonising regulations, particularly in the tech sector, to support the increased capital investment in digital infrastructure required to accelerate economic development.

He was speaking at the opening of the Africa CEO Forum in Kigali, Rwanda, where the theme of the gathering of some 2 000 business leaders, CEOs, investors, heads of state and ministers was ‘At the table or on the menu? A critical moment to shape a new future for Africa’.

“I would argue that the thing we do need to think about is harmonising regulatory developments, particularly in the technology space,” said Mupita, referencing the numerous different regulations that apply across Africa, where the population is of a similar size to that of India – a single country where only one set of regulations apply.

“How do we create regulatory systems that are common across Africa?” he asked delegates to the Africa CEO Forum in Kigali, Rwanda, adding that harmonisation would help investors better anticipate their own returns and in turn encourage investment.

MTN Group has mobile operations in 17 countries in Africa and is working to extend digital inclusion in line with UN goals for universal broadband access.

Only around 500 million of the 1.2 billion people in Africa subscribe to mobile services. Just over half (57%) use 2G. This means only a quarter of Africans have access to the Internet. Most do not have smartphones, cannot afford them, and are digitally excluded.

MTN Group announces the release of our suite of annual reports for 2023, providing stakeholders with a comprehensive view of our resilient performance, strategic execution and contribution to society against a challenging macroeconomic and geopolitical backdrop.

“In 2024, we at MTN celebrate 30 years of working to give Africans hope, dignity and opportunity,” said MTN Group President and CEO Ralph Mupita. “We acknowledge the key role played by our stakeholders in the journey so far and invite you all to read our 2023 reports for a clear understanding of our strategic progress and priorities.”

The 2023 Integrated Report tells the overall MTN value-creation story, reflecting integrated thinking at the Group and its 19 operations. It is published alongside essential sustainability and financial reports as well as other important information for our shareholders. It highlights many 2023 milestones, among them:

With the acceleration of digital technologies, MTN sees the broad adoption of artificial intelligence (AI) as a material matter. “AI has the potential to drive innovation and efficiency across various sectors, but ethical implications and societal impact need to be carefully managed,” said Mupita, adding: “At MTN, we recognise the need to harness the power of digital technologies responsibly, ensuring our actions contribute positively to economic and social progress.”

As we reflect on three decades of impactful operations, our Sustainability Report pays tribute to the incredible individuals who have been integral to our success – from our dedicated staff and valued partners to the supportive governments and communities we serve. Their stories resonate throughout the report, highlighting our commitment to creating shared value across the continent. 

This year also marks the publication of our 20th consecutive annual Sustainability Report. We are honoured to look back on our journey of growth, innovation and commitment to creating a more sustainable future. This comes at a time where there is widespread adoption of the new investor-focused standards – IFRS S1 and IFRS S2, by the International Sustainability Standards Board. MTN is pleased to have taken proactive steps to begin implementing these standards.

As stewards of the digital age, we are dedicated to fostering a safe and transparent online environment. Our Transparency Report outlines the shifts in digital human rights driven by heightened security concerns, challenges in regulating privacy and growing awareness of digital rights protection. The landscape continues to evolve, reflecting the dynamic interplay between technology, law and societal values.

Climate change continues to leave its mark on Africa with record-breaking climate events across the continent in 2023. Our Climate Report highlights not only our work to reach Net Zero by 2040 but also our efforts to provide access to early warning systems for all through strategic partnerships such as that with Tomorrow.io and Microsoft. This helps ensure we continue to lead digital solutions for Africa’s progress.

Faced with reduced fiscal revenues and the need for greater public spending to support economic activity, many African governments have sought new ways to generate revenue, among them broadening the tax base and increasing tax types and rates.

Our Tax Report shows how we are playing our part in supporting the socioeconomic development of our host nations, with a total contribution of R61.7 billion in taxes across our markets. These are not only corporate taxes but also indirect taxes, withholding taxes, payroll taxes, operating licence fees and other payments to government authorities.

“We recognise the important role our tax contributions play in uplifting communities across our footprint. Our voluntary Tax Report is an effort to explain our tax affairs in a comprehensive and transparent way, thereby underpinning the trust of our many stakeholders,” said MTN Group Chief Financial Officer Tsholo Molefe. “In supporting the attainment of sustainable societies across our markets, we take seriously our responsibility to be a compliant and transparent taxpayer.”

The Notice of Annual General Meeting (AGM) was issued on 25 April 2024. The AGM will take place virtually on Friday 24 May 2024 and provides an excellent opportunity for shareholders to participate and discuss the resolutions that will be presented. We encourage shareholders to attend the meeting.

Link to the website: https://mtn-investor.com/reporting-suite/index.php

MTN Group and major subsidiary MTN South Africa (MTN SA) each retained a Level 1 Broad-Based Black Economic Empowerment (B-BBEE) contributor status in 2023, for the fourth and fifth years in a row respectively.

“We recognise that our success is intertwined with the success of local businesses and people in the markets in which we operate,” said MTN Group President and CEO Ralph Mupita after the release of MTN’s annual B-BBEE compliance report. “We work to make a tangible contribution towards the growth of local enterprises, driving job creation and fostering economic resilience.”

Notable improvements in the year were recorded in the categories of Management Control and Skills Development. The gains in Management Control reflect our work to promote equality in the workplace, creating a gender-inclusive environment and reflecting fair representation of South Africa’s demographics.

Despite the tough macroeconomic environment, MTN continued to drive skills development to meet growing demand for critical and specialised skills in the ICT sector and the economy at large. We increased spending on skills development for people living with disabilities and continued to provide opportunities for unemployed learners.

Over the years, MTN has consistently prioritised the upliftment of previously disadvantaged individuals through our socio-economic development initiatives. Through the MTN Online School and MTN Skills Academy programmes, we have created an even broader enabling environment for disadvantaged individuals. More than 700 000 learners have accessed the MTN Online School platform, offering digital curriculum-aligned educational content for Grades R to 12. More than 900 unemployed youth have received training in digital skills programmes ranging from digital marketing and e-commerce to data science-related short courses.

To meet MTN Group’s strategic priority to create shared value, MTN SA launched the Xlerator enterprise and supplier development programme in September 2023. It aims to transform MTN SA’s supply chain by creating a platform for the growth of Black-owned suppliers through financial, developmental and training support.

“As a significant player in the sector, we recognise our responsibility to foster inclusive and sustainable economic growth,” said MTN SA CEO Charles Molapisi. “Black-owned businesses are integral to the development of South Africa’s economy. Programmes like Xlerator make available more than R2.6 billion in financial support through MTN SA-enabled finance ecosystem partners.”

As we celebrate 30 years of connecting people, over the years we at MTN, have transformed our supply chain by affording more opportunities to Black-owned SMMEs, increasing spend (which is independently verified in terms of the Codes of Good Practice) with targeted suppliers, as follows:

• >51% Black-Owned vendors – from R3.5bn in 2016 to R6.5bn in 2023;
• 30% Black Women-Owned vendors – from R9.2bn in 2016 to R14.2bn in 2023;
• ¹EMEs – from R326m in 2016 to R785m in 2023;
• ²QSEs – from R1.2bn in 2016 to R1.8bn in 2023; and
• ³Designated Groups – from zero in 2016 to R1bn in 2023.

*Notes:
1.EME: Exempted Micro Enterprise: an enterprise with an annual turnover of R10m or less; and
2.QSE: Qualifying Small Enterprise: an enterprise with an annual turnover of between R10m and R50m
3.Designated groups: comprise: Black People living with Disabilities, Black people living in rural areas and Black military veterans) including Black Youth;

MTN Group is delighted to announce the appointment of M&C Saatchi Abel and Group of Companies, a pan- African marketing services firm, as its new marketing services partner across all MTN Group operating companies, effective 1 January 2025. This partnership underscores our ongoing commitment to pioneering innovative and impactful marketing strategies across our diverse markets.

M&C Saatchi Abel was selected following a meticulous process for their expertise in fostering growth and enhancing brand value for multinational corporations. Their proficiency in digital transformation and customer engagement strategies perfectly aligns with MTN Group’s forward-looking vision.

“We look forward to commencing this new chapter with M&C Saatchi Abel and their Group of Companies,” remarked Bernice Samuels, MTN Group Marketing Executive. “Their progressive perspective and achievements in the marketing domain are precisely what MTN requires to elevate our brand. We believe this partnership will not only redefine our brand presence but also enrich the experiences of our customers globally.”

Jacques Burger, Group CEO of M&C Saatchi Abel and Group of Companies, shared their excitement about the alliance, saying, “It’s a great honour to partner with MTN Group, a distinguished leader in the telecommunications arena. We are dedicated to applying our comprehensive industry insights and cutting-edge marketing strategies to support MTN’s growth ambitions and boost customer satisfaction. We are eager to achieve remarkable milestones together in the industry.“

MTN Group would like to extend our deepest gratitude to TBWA Group – part of the OMNICOM network, for their service and significant contributions over the years. Their dedication and performance have been instrumental in shaping the MTN brand, and we wish them continued success in their future endeavours.

This partnership marks a new phase for MTN Group, focused on delivering unparalleled value to our customers and stakeholders.

MTN Group, in partnership with Huawei, officially inaugurated the Technology Innovation Lab at MTN Group’s headquarters. This milestone marks a significant advancement in their ongoing collaboration across diverse digital fields. Initially announced during MWC 2024, when the parties signed a Memorandum of Understanding, the establishment of the lab aims to further deepen their collaboration, accelerating digital transformation and sustainable development across Africa.

The Technology Innovation Lab is poised to be a catalyst for digital progress in Africa. By fostering cross-regional collaboration, it will stimulate the African digital ecosystem and promote the rapid development, deployment, and adoption of cutting-edge innovative solutions.

This lab plays a crucial role in MTN’s evolution, moving beyond the traditional telecommunications operator role to become a leading provider of comprehensive technology services. Research and development within the lab will concentrate on vital areas including 5G and 5G-A technologies, artificial intelligence, big data analytics, cloud computing, FTTH, automation and digital financial services – all catalysts for Africa’s digital future.

During a tour of the facilities at the launch event, visitors were treated to several world-class technology use cases across Network, Fintech, Information Technology (IT) and Security (IS).

Ralph Mupita, President and Chief Executive Officer of MTN Group, stated: “This lab further demonstrates our commitment to developing relevant, sustainable, and transformative solutions designed specifically for the African context and signifies a strategic investment in Africa’s future – It’s about solutions born in Africa, for Africa. It will catalyse the growth of the digital economy, fostering innovation and generating long-lasting opportunities to empower communities and advance the continent’s development.”

Mazen Mroué, Chief Technology and Information Officer at MTN Group emphasised during the ceremony: “The Technology Innovation Lab is more than just a hub for tech; it’s a platform for collaboration, demonstrating our technology capabilities resulting from the continuous investment made by MTN during the last 30 years. It is a space where the best minds can come together, share ideas, and push the boundaries of what’s possible. By working closely, we can leverage each other’s strengths and the collective brilliance of Africa’s innovators to create solutions that will transform lives. This collaborative spirit is what will unlock the true potential of this lab.”

Cao Ming, President of Huawei’s Wireless Solutions, stated: “We will collaborate with MTN to create leading products and solutions for the African market, and together explore new business models to lead the industry forward. We believe that the establishment of the innovation lab will accelerate the development of Africa’s digital economy and build a more prosperous and sustainable African continent.”

The Technology Innovation Lab will serve as a hub for experimentation, demonstration, and skill-building. It is equipped with state-of-the-art facilities and resources designed to support cutting-edge research and development initiatives. The Lab is open to MTNers, partners and other stakeholders based on prior reservation to access the facility. This stands as a testament to MTN and Huawei’s dedication to the future of Africa. It will pave the way for unparalleled innovation, digital inclusion, and economic progress across the continent.

ayoba is pleased to share the achievement of a significant milestone with the super-app reaching 35 million monthly active users across the African continent in December 2023. This growth is attributed to the heightened retention rates and organic adoption, fuelled by an enhanced user experience in the communication suite and a robust content offering that includes music, channels, games, and services. The expansion has been further propelled by the inclusion of users from new territories such as Kenya, Egypt, Mali, Tanzania, Burkina Faso, and Botswana.

Selorm Adadevoh, MTN Group Chief Commercial Officer shares, “Empowering connections, fostering innovation, and charting the course for a digital future, ayoba is more than an app – it’s a transformative journey. Like the continent itself, ayoba has been resilient, dynamic, and forward-thinking. As we reflect on the milestones of 2023, it’s clear that our dedication to innovation and user-centricity has propelled ayoba to new heights. With gratitude for the past and a vision for the future, we embarked on 2024 with a steadfast commitment to continuing to evolve ayoba delivering enriched experiences for its growing user base in Africa. Our focus remains unwavering on empowering communities, driving innovation, and building a sustainable ecosystem for long-term growth, ayoba is not just an app; it’s a testament to the power of connectivity.“

ayoba saw strong growth in 2023 in many areas of the service. Usage of Music continued to increase via ayoba’s popular playlist service* in collaboration with Boomplay, which ended the year in excess of 600 million streams.  Amongst many other growth drivers were improvements in the messaging vertical and popularity of the new ‘Explore’ landing page.

Looking ahead to 2024, Burak Akinci, ayoba’s CEO, expresses optimism, saying “We are very proud of our achievements in 2023, and we have a lot to look forward to in the coming year. We begin the year with a strong offering for Football fans including multiple daily news updates, games, themed playlists to name a few.  As we move into the year, our product and content teams have many updates coming across Messaging and Groups, User Stories, Music, Games and more. Our focus in 2024 will extend to the B2B front, introducing features to benefit our partners and leverage our growing ecosystem and traffic.“

In 2023, ayoba successfully launched content marketing attracting partnerships with top brands such as Cadbury’s, Chappies. The year ahead will see a heightened focus on expanding partnerships with known brands, as new Ad Sales options are introduced to capitalise on the growing user base and engagement.

On the content front, ayoba has secured new high-profile partners, from international NGOs to the localised Dycoco offering, adding more French comedy to the highly popular Adamant Media series on the platform. In plans for 2024, includes the introduction of more podcasts, playlists, education, sports news, lifestyle updates and uplifting with a focus on short-form video.

ayoba is set to launch an updated range of services, including a communications API, new payment partners and improvements to its partner portal. The newly launched ‘Discover’ Page in the Services vertical offers new traffic drivers for partners, as well as a curated services offering.

Messaging has always been a core focus for ayoba. Following on the successful re-engineering of the messaging module in 2023 which included a design and features refresh; ayoba will turn its attention to commercial features in 2024.  This includes the introduction of business accounts with related support and a suite of business-oriented features.

*in partnership with Boomplay

MTN has again been ranked the most valuable South African brand, as well as the top South African brand by ‘sustainability perceptions value’ by Brand Finance South Africa 100 2024, which assigned MTN a brand value of R68.2 billion and a sustainability perceptions value of R5.7 billion.

“It is both encouraging and humbling that we retain our top spot after 30 years in the business and that – despite the significant macroeconomic challenges we are facing – our brand also has the strongest association to perceptions of sustainability,” said MTN Group President and CEO Ralph Mupita. “We would like to thank our customers and other stakeholders everywhere for their support and we’d also like to thank our people for their commitment.”

Brand Finance said: “While global operations can significantly enhance brand visibility and financial performance, they also introduce complexities that can affect brand strength negatively. These include navigating different regulatory environments, cultural nuances, and operational challenges including wars that can impact customer perceptions and loyalty.”

Brand Finance attributed MTN’s brand strength to “the company’s effective strategies in areas such as customer service, advertising, loyalty programs, and overall reputation management”.

The report also named Ralph Mupita the top ranked ‘Brand Guardian’ among South African CEOs.

For more information visit: Brand Finance

MTN Group Limited (“MTN”) wishes to confirm that its wholly owned subsidiary MTN Dubai Limited has entered into an agreement for the sale of its 75% shareholding in Areeba Guinea S.A. to Telecel Group. The sale remains in line with MTN’s portfolio optimisation focus within our Ambition 2025 strategy.

The sale has not reached completion and remains subject to conditions precedent being satisfactorily met, including the receipt of regulatory and other approvals from the relevant authorities in Guinea.

MTN will continue to work and cooperate with the relevant regulatory authorities, to ensure that all the appropriate requirements for transactions of this nature are addressed.

MTN wishes to reassure our customers in Guinea that the ongoing transaction will not affect the services offered to them.

MTN Group announces the appointment of Mike Silber, as Group Executive Regulatory, effective 1 April 2024. He joins MTN Group from Liquid Telecom, where he held the role of Group Chief Regulatory Officer, for five years.

During his tenure at Liquid Telecom, Mike was instrumental in the creation and expansion of the most extensive cross-border fibre network in Africa, as well as the continent’s largest networked data centre operation. These achievements highlight his commitment to enhancing Africa’s digital landscape and his adeptness in navigating the complex terrain of legal, policy, and regulatory challenges to drive business success and improve connectivity.

Lele Modise, Group Chief Legal and Regulatory Officer shared: “Mike’s extensive background, spanning legal expertise and regulatory leadership across Africa and beyond, makes him a valuable addition to our team. His passion for bridging digital connections within Africa and with the world resonates deeply with MTN’s purpose. We look forward to the innovative approaches and insights Mike will contribute to our efforts in enabling a modern connected life for everyone on the continent.”

With over 25 years of experience in the telecommunications and internet sectors, he brings legal, policy and regulatory expertise of addressing business challenges and finding creative solutions to deliver business results.

Mike is a distinguished South African attorney, holding B Proc and LLB degrees from the University of the Witwatersrand. His extensive experience includes serving on the boards of several industry bodies, such as ISPA South Africa and the Internet Corporation for Assigned Names and Numbers (ICANN), and he is an associate of the LINK Centre at Wits. Currently, he also contributes his expertise to the boards of the Tertiary Education and Research Network of South Africa and the Public Interest Registry.

MTN Group warmly welcomes Mike to his new role and anticipates his significant contributions towards achieving the Group’s vision of leading digital solutions for Africa’s progress.

MTN Group reported a resilient underlying operating performance for 2023 in the face of tough macro headwinds, declaring a total dividend of 330 cents per share. Inflation remained elevated in several key markets and the sharp devaluation of the Nigerian naira impacted reported results for both MTN Nigeria and MTN Group.


Amid sustained high demand for data and fintech services, MTN Group increased the number of active data subscribers by more than 9% to 150 million – half the total subscriber base – and active Mobile Money (MoMo) users by 5% to 72.5 million. Total subscribers increased to 295 million across the Group’s markets.


In the year to end-December 2023, data traffic on MTN’s networks (excluding joint ventures) grew by more than a third, with usage up to an average of more than 6GB per user per month. To sustain this growth, as well as network coverage and quality, MTN deployed capital expenditure (excluding leases) of R41 billion in the year.


The volume of fintech transactions also increased by around a third to 17.6 billion, with the value of transactions across the fintech platform up at US$272 billion, driven by growth of advanced services in payments, banktech and remittance solutions.


In South Africa, where the business faced loadshedding challenges, subsidiary MTN South Africa deployed R10 billion of capex to drive network capacity expansion and power resilience. More than R2.6 billion of this was investment in power and security resilience. By the end of the year, network availability across the entire network reached around 95%. For the sites where we had completed our resilience investment, we recorded network availability of more than 98%.


MTN South Africa reported solid growth in the consumer postpaid, enterprise and wholesale businesses. In the second half of the year there were also sequential improvements in the consumer prepaid business.


Strategic delivery
In the year, MTN Group made good strategic progress in the development of our fintech and fibre businesses. A key highlight was concluding an agreement for payment network processor Mastercard to invest up to US$200 million for a minority stake in MTN Group Fintech at a valuation of US$5.2 billion.

“We are excited about this partnership, particularly the commercial agreements, which we expect to support the accelerated growth of our fintech business,” said MTN Group President and CEO Ralph Mupita. “In 2023, we also advanced our work to structurally separate the fibre business, Bayobab, with engagements to secure regulatory clearances in key markets being the main priority.”

In the year, Bayobab and Africa50 partnered to develop Project East2West, a terrestrial fibre optic cable network to help bridge Africa’s connectivity gap by improving broadband access for the continent’s landlocked countries in particular.

Among the Group’s other strategic progress highlights were the 13.1% absolute reduction in Scope 1 and 2 emissions. This is part of our environmental commitment to reach Net Zero emissions by 2040. We also finalised the sale of MTN Afghanistan, which completed the Group’s exit of our consolidated subsidiaries in the Middle East.

Resilient results
In the year, MTN Group’s finances withstood a challenging external environment, marked by elevated inflation (averaging a blended 16.7%), forex volatility and paucity, and ongoing political tensions in some markets, most notably in Sudan.

In constant currency terms, MTN Group service revenue grew 13.5% to R210 billion, with data revenue making up R84 billion and voice revenue contributing R83 billion. Fintech revenue totalled R21 billion.

Earnings before interest, tax, depreciation and amortisation grew by almost 10% in constant currency terms to R90 billion. The Group delivered expense efficiencies of R2.6 billion and kept key debt ratios within covenant levels.

Outlook and priorities
Looking ahead, Mupita said MTN remained focused on executing on Ambition 2025: sustaining operational momentum, accelerating the platforms strategy, driving expense and capital efficiencies, and continuing to strengthen the balance sheet.

“We are anticipating that the macro conditions in our trading environment will persist in 2024, with naira volatility and elevated inflation the key challenges we will need to navigate. MTN plans to invest R35-39 billion in 2024 to position the company to capture the structural demand for data and fintech services across Africa,” he said.

“We maintain our overall medium-term guidance framework, however simplifying our objective for fintech,” Mupita said, adding that MTN was encouraged by the outlook for the fintech business, given the solid growth in advanced services. “The partnership with Mastercard positions the business well to scale faster and we are excited about the commercial launches of card issuance, acceptance and remittances across the footprint.”