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Africa’s biggest telecoms operator MTN Group (MTNJ.J), said on Monday it swung to an annual profit before tax of 47.4 billion rand ($2.81 billion), driven by strong performances in MTN Nigeria (MTNN.LG), and MTN Ghana (MTNGH.GH), opens new tab.
MTN Nigeria controls the market share in Africa’s most populous country.
South Africa-headquartered MTN had reported a restated loss before tax of 4.1 billion rand in 2024.
The group’s service revenue rose 22.7% to 218.5 billion rand in the year ended December 31, led by strong growth of 54.9% and 35.9% in Nigeria and Ghana, respectively, the mobile operator said in a statement.
MTN South Africa reported overall service revenue growth of 2% amid competitive pressures in the prepaid segment.
The operator declared a final dividend of 500 cents per share, up 45%.
Political Economist NG reports that as of March 2026, MTN Nigeria dominates the Nigerian telecommunications sector, holding approximately 51.78% to 51.87% of the mobile market share with roughly 93-94 million subscribers, more than half of the connected GSM population
Airtel Nigeria follows as the next largest operator with roughly 34% market share (60-62 million users), followed by Globacom.
MTN Nigeria stock, trading as MTNN, crests the chart at the Nigerian Exchange (NGX) with a market capitalization of over ₦16 trillion, according to data from AFX and Bloomberg.
–Reuters with additional report by Political Economist NG
