MTN Nigeria has once again ascended to the position of the largest revenue contributor to MTN Group Ltd, as revealed by the financial data for the first half of 2025, released today.
Service revenue from MTN’s Nigerian operations, which reported a loss in the first half of the previous year, increased by 37.5% to 28.2 billion rand ($1.6 billion) in the six months ending June 30. In comparison, sales in its South African unit rose by 2.3% to 21.6 billion rand ($1.22 billion).
Ghana’s operations ranked third in terms of Group Service Revenue, generating 20.67 billion rand ($1.17 billion) during the first half. In the first half of 2024, MTN Group’s revenue was led by its South African operations with 21.11 billion rand, followed by Nigeria at 20.523 billion rand and Ghana at 10.32 billion rand.
Service revenues in Nigeria increased by 54% on a constant currency basis, while Ghana’s operations saw a rise of 39.9%. MTN Nigeria contributed 26.9% to the overall service revenue of MTN Group, compared to 20.6% from South Africa and 19.7% from Ghana.
The company has set a three-year target to rejuvenate growth in its South African operations, according to Group CEO Ralph Mupita.
The company reported a net income of 9.75 billion rand for the six months ending June 30, in contrast to a loss of 7.39 billion rand in the same period the previous year, attributed to currency depreciations in Nigeria and Ghana.
