MTN Hails Nigeria, One Other As Key Levers To Conglomerate’s Return To Profitability

Africa’s largest mobile network operator, MTN Group Limited, has projected that its full-year earnings will more than quadruple, driven by a sharp recovery in the conglomerate’s Ghanaian and Nigerian operations.

In a trading statement released today, the Johannesburg-headquartered telecommunications giant said it is finalising its results for the year ended 31 December 2025 and anticipates reporting a markedly stronger performance compared with the previous year.

The group expects earnings per share to swing dramatically from a loss of 531 cents in 2024 to a range of 1,062 to 1,168 cents in 2025, representing an increase of more than 300 per cent.

Headline earnings per share are projected to rise from 98 cents to between 1,264 and 1,284 cents, an increase of more than 1,000 per cent.

“MTN is currently finalising its results for the period ended 31 December 2025 (FY 25),” the company stated, adding that the anticipated performance was driven by “pleasing operational progress and a supportive macroeconomic environment in key markets”.

Highlighting the contribution of its largest subsidiaries, the group stated: “In our larger operations, MTN Nigeria and MTN Ghana delivered robust results in their FY 25 earnings releases on 26 February 2026 and 27 February 2026, respectively, highlighting improved profitability on better revenue growth.”

The Nigerian business, it noted, staged one of the most notable recoveries within the group.

MTN Nigeria returned to profitability in 2025 with a profit after tax of N1.1 trillion, compared with a loss of N400.4 billion in 2024.

The turnaround follows a period in which sharp depreciation of the Naira triggered substantial foreign exchange losses.

Fourth-quarter figures underscored the rebound, with pre-tax profit rising to N569.6 billion, up 248.8 per cent from N163.3 billion in the corresponding period of 2024.

Improved cost management, sustained revenue growth and more stable foreign exchange conditions were cited as key drivers.

The firm’s board has proposed a final dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share.

In Ghana, MTN Ghana also delivered strong gains.

Service revenue increased by 36.2 per cent year on year to 24.4 billion cedis, while earnings before interest, tax, depreciation and amortisation rose by 43.5 per cent to 14.7 billion cedis. The EBITDA margin expanded by three percentage points to 60.1 per cent.