MTN Group Limited has reported robust financial and operational results for the quarter ended 31 March 2026, demonstrating resilience and commercial momentum despite a challenging macroeconomic and geopolitical environment.
The performance reflects successful execution of the Group’s Ambition 2030 strategy, with notable strength in data services and fintech.
Key Financial and Operational Highlights
- Service Revenue: Grew 20.0% year-on-year (21.1% in constant currency).
- EBITDA Margin: Expanded by 3.0 percentage points to 47.6%.
- Total Customers: Increased 5.4% to 312.7 million.
- Active Data Users: Rose 8.7% to 175.6 million.
- Data Revenue: Grew 36.1%.
- Fintech Revenue: Increased 22.4%, with transaction value up 32.8% to US$163 billion.
- Mobile Money Monthly Active Users: Grew 8.2% to 67.4 million.
Nigeria and Ghana were the standout performers, delivering service revenue growth of 41.7% and 35.7% (in constant currency), respectively.
Strong contributions also came from Cameroon and Côte d’Ivoire. MTN South Africa recorded more modest growth of 0.7%, impacted by competitive pressures in the prepaid segment.
Leadership Commentary
MTN Group has reported a strong overall performance and resilient financial results… We have concluded the first quarter of executing on our new Ambition 2030 strategy solidly with our operations delivering both service revenue growth and EBITDA margin expansion
Ralph Mupita, Group President and CEO of MTN Group
READ ALSO:MTN Group Strengthens Fintech Strategy as Revenue Growth and Structural Shifts Drive Momentum
He added:
“A more supportive macroeconomic and foreign exchange backdrop in key markets like Ghana, Nigeria and Uganda supported accelerated investment to meet robust demand.”
Strategic Progress
MTN continued to advance its Ambition 2030 priorities during the quarter, including:
- The structural separation of its fintech businesses in Ghana and Nigeria.
- Progress on the proposed acquisition of IHS, aimed at strengthening its digital infrastructure position.
Capital expenditure reached R9.6 billion, with capex intensity at 16.4%. The Group maintains a strong balance sheet, with net debt to EBITDA at 0.2x and solid liquidity.
MTN Group has reaffirmed its medium-term guidance and remains focused on sustained growth in data and fintech, operational efficiency, and continued investment in network quality and digital platforms to support Africa’s digital progress.
Future Outlook
MTN Group delivered a strong start to 2026 with double-digit service revenue growth, EBITDA margin expansion, and continued momentum in both data and fintech segments.
Nigeria and Ghana led performance, while the Group made meaningful progress on its Ambition 2030 strategic priorities.
MTN Group Overview
MTN Group Nigeria: MTN Nigeria is the largest subsidiary of MTN Group and one of Nigeria’s biggest telecom and fintech operators.
MTN Group South Africa: MTN Group is headquartered in Johannesburg, South Africa, and serves as one of Africa’s largest mobile network and digital services companies.
MTN Group subsidiaries: MTN operates subsidiaries across multiple African and Middle Eastern markets, including MTN South Africa, MTN Nigeria, MTN Ghana, MTN Uganda, MTN Rwanda, MTN Cameroon, MTN Côte d’Ivoire and others.
MTN Group careers: MTN offers careers in telecoms, fintech, cybersecurity, engineering, digital platforms, marketing and enterprise services through its group and country-level recruitment portals.
MTN Group Investor Relations: Investor updates, annual reports, financial statements, share information and earnings presentations are available through MTN Group’s Investor Relations platform.
MTN countries: MTN operates in more than 15 countries across Africa and the Middle East, serving over 280 million subscribers.
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