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MTN Group is pleased to announce the 2025 edition of 21 Days of Y’ello Care, our highly anticipated flagship employee volunteerism campaign, taking place from 1-21 June 2025.

Now in its 18th year, Y’ello Care continues to demonstrate the power of employee-led action to drive meaningful change across the communities we serve. Since its inception, the campaign has mobilised thousands of MTN employees to support impactful initiatives focused on education, health, youth development, and economic empowerment.

Each year, the campaign evolves to reflect the most pressing needs of society, while remaining grounded in our commitment to enable the benefits of a modern connected life for everyone. Over the past 6 years, we have reached the lives of 107,034 people across our communities through the impact of 14,376 MTN volunteers completing 56,306 cumulative hours of community engagement.

This year’s theme, “Connecting at the Roots – Connecting communities through the use of digital tools,” responds to the ongoing challenge of digital exclusion, particularly in rural, remote, and underserved areas. Across many parts of Africa, limited connectivity continues to constrain access to education, healthcare, financial services, and economic opportunity. Women, youth, persons with disabilities, and displaced populations are disproportionately affected.

Y’ello Care 2025 will see MTNers across our markets implement practical, community-led initiatives that leverage technology to unlock connectivity to bridge these gaps.

“Y’ello Care reflects our belief that real progress begins at the grassroots level. In 2025, we are focusing our efforts on the communities that remain on the margins of digital access and connectivity. By applying technology in ways that are practical, inclusive, and sustainable, we are working to ensure that no one is left behind,” said Nompilo Morafo, MTN Group Chief Sustainability and Corporate Affairs Officer. “Our people remain the driving force behind this campaign, and their continued commitment to serving with purpose is what makes Y’ello Care a true embodiment of MTN’s values.”

In line with MTN’s values, the campaign prioritises meaningful partnerships, responsible delivery, and inclusive engagement. Through trusted collaborations with community stakeholders, we aim to develop practical solutions that are responsive to local contexts, respectful of community aspirations, and inclusive of those most often excluded from digital progress.

Through Y’ello Care, MTN reaffirms its belief in the transformative power of technology and in the ability of our people to be agents of positive change. We look forward to working together with communities and partners to deliver meaningful, sustainable impact where it is needed most.

MTN Group has been inducted into the inaugural Brand Africa Hall of Fame “in recognition of its transformational impact on African consumers and its role in shaping a positive African narrative”.  MTN was also recognised as the #1 Most Admired African Brand Contributing to a Better Africa; the #1 Most Admired African Brand (spontaneous recall); the #1 Most Admired Brand Doing Good for Society and the Environment; and #1 Most Admired Telecommunications Brand.

The Hall of Fame honour, introduced this year by Brand Africa, acknowledges brands that have demonstrated sustained excellence and influence on the continent over the past decade. MTN’s induction reflects its ongoing commitment to enabling digital access, expanding financial inclusion, and contributing meaningfully to Africa’s development.

The announcement was made alongside the release of the 2025 edition of the Brand Africa 100 rankings – an annual, independently conducted survey spanning more than 30 African countries and representing more than 85% of the continent’s population and GDP.

“It is an honour to be inducted into the Brand Africa Hall of Fame and to be named the most admired African brand contributing to a better Africa, the most admired African brand by spontaneous recall, as well as the brand most admired for doing good for society and the environment,” said Ralph Mupita, MTN Group President and CEO.

“That this recognition comes during Africa Month gives it added significance. It reflects the progress we continue to make as a continent and the role trusted brands must play in advancing inclusive, digitally enabled growth. We are grateful for the confidence placed in MTN by the people we serve and remain committed to delivering meaningful impact.”

Mupita also acknowledged the collective effort behind the brand’s success, thanking MTNers, partners, and other stakeholders across the continent for their role in making this recognition possible.

MTN operates mobile networks in 16 countries. Since 2021, the company has been guided by its Ambition 2025 strategic intent of Leading digital solutions for Africa’s progress. This underscores MTN’s commitment to driving digital and financial inclusion and fostering innovation across the continent.

Further validating its brand leadership, MTN was recently ranked once again as South Africa’s most valuable brand. The accolade was made in the 2025 Brand Finance Top 100 Report, which accorded MTN a brand valuation of R50.7 billion. MTN has held this position every year since the survey’s inception in 2012.

Brand Africa Recognition

As part of our work to deepen stakeholder relations and partnerships for Africa’s progress, MTN Group is a platinum sponsor of the Africa CEO Forum, which brings together the continent’s most influential decision-makers for two days of meetings on the private sector’s key role in accelerating Africa’s development.

The 12th edition of the annual summit is taking place in Abidjan on 12–13 May 2025. Some 2 000 business leaders, investors and policy makers are in attendance to shape practical strategies to expedite Africa’s economic transformation.

The theme for 2025 is ‘Africa in a transactional world: Can a new deal between state and private sector deliver the continent a winning hand?’. It recognises the need for governments to strike a new deal with the African private sector, anchored on three pillars: an improvement of governance and accountability; targeted public policies to address Africa’s structural challenges; and the accelerated implementation of the African Continent Free Trade Agreement (AfCFTA).

“At part of our shared value priority to support Africa’s progress, we at MTN seek to align with the priorities of our continent and nation states and to actively engage governments and regulators to help shape industry dynamics,” said MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo.

“MTN’s participation at the Africa CEO Forum reflects our nation states programme and our commitment to work together to enable inclusive growth,” she added, noting that escalating tensions in world geopolitics present headwinds to Africa’s budding economic recovery. “We believe the continent’s sustainable progress will come from trusted partnerships, coherent policy environments and shared investment in the systems that power Africa’s digital and economic future.”

As part of the Forum programme, MTN Group Senior Vice President: Markets, Ebenezer Asante, is participating in a panel discussion exploring tax policy and resource mobilisation. The session focuses on how public and private sector stakeholders can consult and collaborate to ensure fiscal environments that support both domestic priorities and the stability required for sustained investment.

MTN Côte d’Ivoire CEO Mitwa NG’ambi is contributing to a strategic roundtable on Africa’s digital transformation. This is looking at strategies to enhance network resilience and accelerate infrastructure deployment – particularly in underserved areas – and the role of policymakers in fostering an investment-friendly environment that accelerates digital transformation.

MTN Group’s sponsorship and participation at the Africa CEO Forum underscore our commitment to building a more connected, inclusive and prosperous Africa.

MTN Group this week convened its annual Chairmen’s Forum in Uganda, bringing together Board Chairs from its operating companies and senior executives from across the business. Held in Kampala, the Forum serves as a key leadership platform to reflect on strategic progress, strengthen alignment, and advance the Group’s ambition to lead digital solutions for Africa’s progress.

On the sidelines of the Forum, the MTN Group delegation, led by Group Chairman Mcebisi Jonas and Group President and Chief Executive Officer Ralph Mupita, engaged with national leaders and key stakeholders to reinforce the Group’s long-standing commitment to Uganda as a strategic market.

These engagements included a high-level meeting with His Excellency President Yoweri Kaguta Museveni at State House, Entebbe, as well as a stakeholder dinner hosted by MTN, attended by senior government officials.

During the State House meeting, President Museveni welcomed MTN’s continued investment and emphasised the importance of targeting sectors that generate employment and expand the economy. “If people have jobs and incomes, they will buy more phones and use them more,” he said. “That’s why we must invest in the four key sectors of wealth and job creation: commercial agriculture, manufacturing, services, and ICT.” He further encouraged MTN to explore cross-border investment as a means of promoting regional integration and intra-African trade.

Uganda holds a distinct place in MTN’s history as the first country outside South Africa where the Group secured a telecommunications licence. Granted in 1998, this licence marked the beginning of MTN’s international expansion, laying the foundation for what would become one of Africa’s leading digital infrastructure and platform businesses. Today, MTN Uganda stands as one of the Group’s most important markets, commercially and developmentally.

Mcebisi Jonas, MTN Group Chairman, expressed appreciation for the long-standing collaboration between MTN and the Government of Uganda. “We just came today to say thank you very much for the support you have always given us. We have had excellent collaboration from the regulators, and MTN is not here for the short term—we are here for the long haul,” he said. He also emphasised MTN’s interest in strengthening trade and business linkages between Uganda and South Africa, and highlighted the Group’s broader capacity to support national development. “We believe there is real opportunity to help Ugandan businesses enter the South African market, and that is something we can explore further.”

As MTN Group continues to drive the acceleration of Africa’s digital future, Uganda remains a key partner, demonstrating the enduring value of early investment, collaborative nation-building, and a shared commitment to inclusive and sustainable progress.

The 7th edition of the Benin Investment Forum (BIF) will take place from 8 to 9 May 2025 at the Sofitel Hotel in Cotonou, bringing together leaders from government, business, and civil society to foster economic cooperation, attract foreign direct investment, and promote inclusive development. Organised by the Government of Benin through the Investment and Export Promotion Agency (APIEX) and the Benin Chamber of Commerce and Industry, the Forum comes at a crucial moment in Benin’s development, underpinned by structural reforms and macroeconomic stability.

MTN Group proudly joins the Forum as the Platinum and Headline Sponsor. This strategic partnership follows MTN Group President and CEO, Ralph Mupita’s market visit to Benin in January 2024, where the company reaffirmed its longstanding commitment to the country’s development as a trusted partner. MTN’s participation at BIF 2025 will be led by Senior Vice President Markets Ebenezer Asante, who will deliver a keynote address at the Opening Ceremony on the topic “MTN: Partner in Africa’s Development.” He will be joined by MTN Benin CEO Uche Ofodile and MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo, both of whom will participate in high-level discussions on finance, the future of technology, and women’s leadership in business.

MTN will also take the lead in hosting the exclusive MTN Investment Night, a high-level networking engagement aimed at facilitating meaningful dialogue among investors, policymakers, and senior business leaders. As part of its broader contribution to the Forum, MTN will collaborate with the Benin Ministry of Trade and Commerce to evaluate start-up pitches, spotlighting innovative solutions from emerging entrepreneurs. Additionally, the Group will deliver an inspirational leadership masterclass, curated to inspire and equip the next generation of African business leaders with insights drawn from MTN’s journey of growth and transformation across the continent.

Having operated in Benin for more than 25 years, MTN has made significant contributions to the country’s digital infrastructure, financial inclusion, and social development. The Group has committed over $215 million in new investments through 2026, including the rollout of 5G services, expansion of fibre connectivity, and the construction of a new MTN Benin headquarters. MTN’s impact also extends into health, education, and entrepreneurship through the work of the MTN Foundation, reinforcing its belief that digital access is key to unlocking national and regional progress.”

Commenting on MTN’s commitment to the Benin Investment Forum and the country, Ebenezer Asante, MTN Group Senior Vice President, Markets stated: “Our presence at the Benin Investment Forum reflects more than sponsorship, it’s a reflection of our unwavering belief in Benin’s potential and our shared journey toward inclusive digital transformation. Through strategic partnerships rooted in national development goals, MTN is proud to be a catalyst for progress, investment, and innovation in Benin and across the continent.”

MTN’s participation in the Benin Investment Forum 2025 exemplifies the company’s belief that inclusive, resilient growth must be rooted in strategic collaboration between the public and private sectors. As a partner of choice to African governments, MTN continues to play a leading role in building the infrastructure, capabilities, and ecosystems required for nations to thrive in a digital world. Through its involvement in BIF 2025, MTN reaffirms its commitment to Benin’s development journey and to advancing Africa’s digital and economic integration.

A pioneer in transformation in South Africa, MTN Group and major subsidiary MTN South Africa (MTN SA) each maintained a Level 1 Broad-Based Black Economic Empowerment (B-BBEE) contributor status in 2024.

MTN’s annual B-BBEE compliance report, compiled by an independent verification agency, underscored our efforts to drive inclusive growth and empowerment through deliberate and targeted interventions in the year.

“Our commitment to transformation and focused execution has yielded measurable successes across several elements of the B-BBEE scorecard, including notable improvements in management control, skills development and preferential procurement,” said MTN Group President and CEO Ralph Mupita.

“As a result of our recruitment and talent management strategies, we increased Black representation in management across all levels and enhanced female representation on the Board of Directors. This is part of our goal of achieving gender equity by 2030,” he added.

MTN SA CEO Charles Molapisi was pleased with the results: “At MTN South Africa, we see our Level 1 B-BBEE achievement not just as a milestone, but as a reaffirmation of our purpose to lead with impact. Transformation is deeply embedded in our DNA, it guides how we invest, how we empower, and how we connect South Africans to real opportunities. We are proud to be part of building a future where inclusive growth drives true progress, for all.”

Despite a challenging macroeconomic environment in 2024, MTN remained committed to creating an equitable environment for previously disadvantaged individuals through our skills development programmes. We invested in building STEM capabilities to help future-proof our graduates and employees, equipping them with the tools required for the digital economy. This was achieved through structured learning, on-the-job training and mentorship.

As a significant player in the sector, we recognise our responsibility to foster inclusive and sustainable economic growth, not just as a corporate entity, but as a catalyst for positive change. Small and medium-sized enterprises (SMEs) play a key role in driving economic.

MTN Group announces the release of our annual reports for 2024. Produced under the theme of ‘Accelerating Africa’s digital future’, the suite of reports provides a thorough overview of our robust underlying performance, strategic delivery and contribution to society, as well as our priorities ahead.

“Committed to operating responsibly and ethically, in 2024 MTN remained focused on executing on our strategic intent of leading digital solutions for Africa’s progress, despite the global uncertainties,” said MTN Group President and CEO Ralph Mupita.

“We couldn’t have done this without the support of our many diverse stakeholders. We invite you to read our reports, which strive to provide meaningful information tailored for various specific audiences.”

The 2024 Integrated Report tells the overall MTN value-creation story, detailing our strategic achievements and initiatives, including our operational highlights, financial performance and progress on ESG.  It explains how MTN leverages our brand, broad presence and skills as well as leading connectivity business, fintech offerings and digital infrastructure to expand digital and financial inclusion across Africa. This is done while mitigating risks and making the most of opportunities in our 16 markets.

This information, which reflects integrated thinking at the Group, endeavours to assist our investors and other stakeholders to understand the Group’s overall health and future focus. It is published alongside sustainability and financial reports as well as other important information for our shareholders.

ESG remains at the core of our strategy and is aligned with our work to advance the United Nations Sustainable Development Goals through our business activities and our support of governments, communities and customers. Our Sustainability Report provides a view of the Group around sustainability-related risks and opportunities that could reasonably be expected to affect MTN’s prospects.

As stewards of the digital age, we believe that safeguarding human rights is at the core of connectivity. In a year of numerous elections across the world, our Transparency Report outlines how MTN reinforced digital rights in 2024 by ensuring secure, uninterrupted connectivity to support free and fair democratic processes.

It also spells out how the rapid expansion of AI presents new ethical risks, prompting MTN to develop a Responsible AI Policy to uphold digital rights and data privacy.

In 2024, Africa faced intensifying climate risks, making sustainability and resilience essential to MTN’s strategy, regardless of changes in countries’ and companies’ adherence to climate policies. Our Climate Report highlights how we are actively addressing both mitigation and adaptation while leveraging emerging opportunities. In the year, we surpassed our emissions reduction target, cutting emissions by more than 46% off a 2021 baseline.

Our Tax Report underscores the role we play in supporting the socioeconomic development of our host nations. In 2024, MTN’s total tax contribution was R52.7 billion, made up of corporate taxes, indirect taxes, withholding taxes, payroll taxes, operating licence fees and other payments to government authorities.

The suite of annual reports also includes a Notice of Annual General Meeting, which invites our shareholders to participate in our virtual meeting on Thursday 29 May 2025. Our Remuneration Report provides transparent disclosure of the remuneration of our leadership based on performance against strategic priorities.

Our ESG Data Booklet is a handy resource for those interested in detailed disclosures relating to MTN’s planet, people, ethics and governance matters. As well as relevant statistics, it highlights our policy and position statements on various ESG issues as well as a comprehensive GRI disclosure index.

“Our prospects and investment case are underpinned by the structural demand we see in data and fintech,” said Mupita. “As a business, we remain resolute in our commitment to accelerating Africa’s digital future and will maintain the focus on operational excellence and strategic execution to capture the exciting growth opportunities in our footprint. We thank our stakeholders for their ongoing support.”

Click HERE to view the reports

The 2024 Africa PachiPanda Challenge, an initiative by MTN Group in partnership with WWF and FNB WesBank, concluded this week with a powerful celebration of Africa’s emerging eco-entrepreneurs. Hosted in Johannesburg, South Africa, the grand finale brought together the brightest young minds from across the continent, united by a shared vision for environmental sustainability and inclusive growth.

The initiative was designed to spotlight Africa’s next generation of environmental leaders and equip them with the tools, mentorship, and networks needed to scale their climate-smart solutions. Finalists from Nigeria, Cameroon, Zambia, and South Africa were invited to participate in a transformative two-day programme, which included expert-led masterclasses on business development, sustainable innovation, and impact measurement, culminating in a vibrant finale event that showcased the continent’s most promising green ventures.

Among the standout innovators, chosen by a distinguished panel of judges for its outstanding scalability, measurable impact, Moses Afopezi of Cameroon claimed first prize for his project AgricFresh, a tech-enabled platform designed to reduce post-harvest loss by professionalising farm management and enhancing market access. By integrating solar-powered cold storage systems, AgricFresh helps extend the shelf life of crops and supports a more efficient, climate-resilient agricultural ecosystem.

Olabisi Rafatu Emmanuel from Nigeria earned second place, and Jean Blaise Seka, also from Cameroon, secured third, with both recognised for their impactful, community-driven solutions that address local environmental challenges with creativity and ingenuity.

“Congratulations to Moses Afopezi and the AgricFresh team for this well-deserved recognition. Their work reflects the kind of grounded, forward-thinking innovation that communities across Africa urgently need,” said Nompilo Morafo, MTN Chief Sustainability and Corporate Affairs Officer. “The Africa PachiPanda Challenge is one of the ways we’re working with partners to support climate entrepreneurship that is practical, inclusive, and rooted in real local needs.”

Innovation, particularly in climate-tech and sustainable development, is increasingly recognised as a cornerstone of inclusive growth. According to the African Development Bank, every dollar invested in climate-resilient infrastructure yields four dollars in economic benefits. Initiatives like the Africa PachiPanda Challenge are helping to unlock this potential by equipping young innovators with the tools to scale locally rooted solutions. From digital platforms for waste management to energy-efficient technologies for agriculture, these ventures reflect the ingenuity of a generation that is redefining what progress looks like, bold, green, and built from the ground up.

WWF echoed their commitment to supporting youth-led solutions. WWF-Zambia Chief External Engagement Officer Fungai Musana, as the lead for the Africa lag said, “WWF is proud to be part of a historic moment, the successful execution of the inaugural Africa PachiPanda Innovation Challenge. This trailblazing, youth-led initiative marks a first of its kind on the African continent. A huge congratulations to the winners for their cutting-edge innovations! And to all participants, well done for stepping up and being part of this incredible journey. WWF is honoured to collaborate with MTN Group in empowering the next generation of sustainable leaders. We believe the ideas born from this challenge have the power to drive meaningful, lasting change for communities and the environment across Africa.”

Adding further support, FNB WesBank underlined the critical role that green innovation plays in Africa’s future, Kyle Durham Head of Sustainability at FNB Commercial, added that FNB, in partnership with WesBank is thrilled to be a part of the Africa PachiPanda Challenge and to support this groundbreaking initiative. The event has been a showcase of inspiring and visionary solutions to unique challenges, and AgricFresh stands out as a shining example of the innovation, passion, and dedication that young eco-entrepreneurs bring to the table, creating lasting impacts for a sustainable future.

As the overall winner of the Africa PachiPanda Challenge, Moses Afopezi AgricFresh project will receive USD 5000, along with ongoing mentorship and strategic support from MTN Group, WWF, UNDP, GSMA and other partners to expand the reach and impact of their innovation. Moses shared a brief insight on his experience: “Never did I imagine that the path to an international stage would be paved by the work we are doing at the grassroots level with AgricFresh. The recognition we’ve received fills me with immense joy and hope for the farmers whose lives we aim to improve. With the knowledge and prize, we’re now empowered to expand our reach to two more communities in Cameroon’s war-affected regions.”

Through this initiative, MTN, together with WWF and FNB WesBank, reinforces its commitment to supporting ideas that deliver lasting value for the environment and local communities. With a footprint in 16 markets across Africa, MTN recognises the unique responsibility and opportunity to provide young innovators with the visibility, resources, and support they need to thrive.

This challenge is a testament to how MTN is embedding sustainability into the way it operates, by investing in people and purpose, with a long-term view toward shared prosperity.

As Africa continues its journey toward inclusive digital transformation, one truth has become clear: unlocking the potential of girls and young women in ICT is not only a question of equality — it is a cornerstone of sustainable development. This Girls in ICT Day, MTN reaffirms its commitment to empowering the next generation of female digital leaders across the continent, aligning with the African Union’s Agenda 2063 and its broader goals for gender equality, innovation, and inclusive economic growth.

Despite notable progress in many sectors, the gender gap in technology and science remains wide. According to the International Telecommunication Union (ITU), only about 30% of the global tech workforce is female. In Africa, this gap is often more pronounced due to structural barriers, socio-cultural norms, and unequal access to digital tools and education. UNESCO reports that just 28% of women worldwide pursue STEM careers, and those numbers drop significantly in low- and middle-income countries. The implications of this disparity are profound — not just for individuals, but for entire economies.

However, the data also tells a more hopeful story: one of opportunity. Research suggests that if gender gaps in labour force participation and digital inclusion were closed, Africa could see a GDP boost of over $300 billion by 2025. Increasing women’s participation in ICT is not a peripheral concern — it is an economic and social necessity. For MTN, empowering girls with digital skills, confidence, and opportunity is not just a moral imperative — it is a strategic investment in Africa’s future.

This vision is already coming to life through MTN’s initiatives across several of its markets. In Liberia, the Next Gen programme is reimagining what access to STEM education looks like. Specifically designed for young women from non-STEM backgrounds, the programme delivers interdisciplinary training in STEAM — science, technology, engineering, arts, and mathematics. Participants like Sasha and Amaze represent a new generation of learners who are building bridges between creativity and technology. By equipping young women with both technical expertise and problem-solving skills, the programme opens doors to careers in fields that were once considered out of reach.

In South Africa, MTN is driving inclusion through innovation-focused programmes like the Women in Digital Business Challenge and the Digital Skills for Digital Jobs initiative. These platforms provide not only critical technical training — including in high-demand areas like artificial intelligence, coding, and cybersecurity — but also access to mentorship and funding. This integrated approach ensures that women are not only prepared for the jobs of the future, but are also positioned to create and sustain their own businesses. Many of the programme’s alumni have gone on to launch startups, lead digital transformation in their communities, and contribute to a growing ecosystem of women-led innovation in Africa.

In Cameroon, MTN’s impact is equally profound. At the Yaoundé V Social Centre, over 250 girls have completed practical ICT training courses that range from digital literacy and e-commerce to social media marketing. These skills are not just theoretical — they translate directly into income-generating activities. Many of the programme’s graduates have since launched their own small enterprises, proving that when girls have the right digital tools, they can drive economic development at the grassroots level. This kind of transformation is exactly what Agenda 2063 envisions: communities where women are empowered agents of change, shaping local economies and contributing to national growth.

MTN’s commitment to gender equality in the digital age extends beyond programme delivery. It is embedded in our broader strategy to mainstream gender considerations across all areas of development. This includes creating pathways for leadership and decision-making roles for women within the tech ecosystem, supporting women entrepreneurs with access to capital and business networks, and advocating for policy environments that prioritise digital inclusion.

Education remains central to this mission. MTN recognises that without access to foundational and advanced learning opportunities in science and technology, millions of girls will be left behind in the digital revolution. That is why our initiatives are designed to reach underserved communities, tackle stereotypes about women in tech, and create safe, supportive environments for girls to explore, experiment, and excel in ICT fields.

As we mark Girls in ICT Day, it is important to recognise that the stakes are high. This is not simply about bridging a digital divide — it is about shaping a digital future that reflects the full diversity of Africa’s potential. Whether in Monrovia, Johannesburg, or Yaoundé, the stories emerging from MTN’s initiatives reveal a powerful truth: when girls are empowered with knowledge, resources, and opportunity, they become architects of progress.

Africa’s journey toward inclusive, tech-driven development will not be complete without the full participation of its daughters. At MTN, we are committed to making sure they are not only included, but empowered to lead. Because doing for tomorrow means investing in the girls who will build it today.

MTN Group on Monday reported a solid underlying operational and financial performance for 2024 – and a particularly strong second half. This strong performance was affected by a sharp drop in the value of the currency of one of our largest markets, Nigeria; and impairments in conflict-hit Sudan

This meant that even though the Group’s service revenue and earnings before interest, tax and amortisation (EBITDA) in constant-currency terms grew by around 14% and 10% respectively, they were negatively affected in reported rand terms.

In the year to 31 December 2024, service revenue of R178 billion was down by some 15% in reported terms, and reported EBITDA (before once-off items) of R60 billion was a third lower than it was in 2023. Basic earnings per share swung by 758 cents in 2024 to a loss of 531 cents.

Adjusted headline earnings per share (HEPS) decreased by 32% to 816 cents, impacted mainly by the sharp devaluation in the naira. With a relatively more stable naira in the second half of 2024 and stronger results from MTN South Africa, second half adjusted HEPS showed strong momentum.

The Board of Directors declared a dividend of 345 cents a share (up from 330 cents in 2023) as the Group reported strong commercial momentum and maintained its guidance over the medium term. The Board, further, anticipates paying a minimum ordinary dividend of 370cps for the 2025 financial year.

We serve 291 million subscribers in 16 markets and progressed key strategic priorities and sustained a healthy financial position as well as balance sheet flexibility in 2024.

“Alongside execution of our commercial strategies, our continued capital investment of R30 billion to strengthen the quality and capacity of our networks enabled us to capture the opportunities in data and fintech across our markets,” said Group President and CEO Ralph Mupita, adding that data traffic accelerated by a third, as data subscribers grew by 8% to 158 million active users.

The volume of fintech transactions on MTN’s networks rose by 15% to more than 20 billion valued at over US$320 billion, while the number of active Mobile Money (MoMo) users rose by just less than 1% to 63 million, slowed by initiatives in key fintech markets to enhance the quality, stickiness and profitability of our overall fintech ecosystem.

Data revenue decreased by 12% on a reported basis, but increased by almost 22% in constant-currency terms. Fintech revenue increased by 11% on a reported basis, but by almost 29% in constant currency. As part of our expense efficiency programme (EEP), we realised sustainable savings of R3.8 billion in 2024.

Performance was underpinned by adhering to disciplined capital allocation as well as expense efficiencies. We are well on track to achieve our EEP target of R7-8 billion between 2024 and 2026.

MTN South Africa sustained a resilient overall performance, with service revenue growth of 3.1% to R43.2 billion for the year, underpinned by improved network availability and commercial initiatives. In the latter part of the year, the business delivered some encouraging acceleration in key commercial metrics, with prepaid data revenue returning to growth from November.

MTN Group advanced the execution of our key strategic initiatives in the year. These included the signing of definitive agreements with Mastercard for a minority investment into the Group Fintech structure, as well as the disposal of MTN Afghanistan, MTN Guinea-Bissau and MTN Guinea-Conakry, which further enhanced the Group’s focus and risk profile.

In Nigeria, we renegotiated tower lease contracts, which allow MTN Nigeria to better manage adverse macroeconomic impacts on the business. In Ghana and Uganda, we increased local ownership in our operations. In South Africa, we extended the MTN Zakhele Futhi broad-based black economic empowerment transaction.

“This underscores our dedication to transformation and creating shared value and remains integral to our future success,” Mupita said of the Group that celebrated 30 years of operations in 2024.

Other shared value wins included further reductions in the Group’s Scope 1 and 2 emissions as well as widening access to broadband internet access to cover 93% of the population in our markets. Advancing broadband in rural and remote areas is critical to our work to extend digital and financial inclusion across Africa.

In terms of our economic value-added to the communities we serve, MTN contributed approximately R155 billion in the year, including around R206 million in corporate social investment programmes across our host nations.

Looking ahead, Mupita said although there remained some macroeconomic and geopolitical uncertainties in the near term, he was encouraged by trends in various indicators. These included inflation (which showed signs of abating in the second half of 2024), reduced forex volatility (particularly of the naira), as well as the tariff adjustments in Nigeria which we started to implement in February 2025. These prompted MTN Nigeria to re-instate its medium-term guidance.

“MTN Group is well positioned to capture the exciting opportunities in our markets and deliver on our medium-term objectives to sustain growth, create shared value in nation states and communities, and unlock value for our stakeholders,” he said.

SENS: https://irhosted.profiledata.co.za/mtngroup/2019_feeds/SensPopUp.aspx?id=507535