MTN has surpassed the 300 million customer mark across its markets, with the group also starting to see a turnaround in Nigeria, its largest market. <\/p>\n\n\n\n
Speaking in a quarterly update, MTN CEO Ralph Mupita added that the group delivered a strong performance in the nine months to September 2025. <\/p>\n\n\n\n
Mupita said that the performance reflected improved macroeconomic conditions and disciplined execution of its strategy and commercial priorities. <\/p>\n\n\n\n
The improved results were underscored by a return to a positive retained income and net equity positions in MTN Nigeria, which the devaluation of the Naira had previously impacted.<\/p>\n\n\n\n
Macroeconomic improvements were evident in the more benign and abating inflation, as well as greater stability in local exchange rates. <\/p>\n\n\n\n
The group’s blended inflation rate moderated further to an average of 13.3%, compared to 13.9% in FY 2024. <\/p>\n\n\n\n
When it comes to currencies, the rand was slightly stronger with an average rate of R18.23\/$.<\/p>\n\n\n\n
The average naira remained relatively stable during the period, while the Ghana cedi was stronger against the dollar. <\/p>\n\n\n\n
Looking at the financials, the group\u2019s service revenue saw growth of 25.9% in rand terms, with an uptick in growth in Q3.\u00a0<\/p>\n\n\n\n
Data growth increased by 40.3% in rand terms, driven by a 9.1% expansion in active data subscribers to 165.8 million, alongside strong demand. <\/p>\n\n\n\n
Notably, larger markets, MTN Nigeria (up 57.1% in constant currency) and MTN Ghana (up 35.9% in constant currency), spearheaded service revenue performance. <\/p>\n\n\n\n
MTN SA reported growth of 2.0%, with solid performance in postpaid and enterprise offset by continued pressure in a highly competitive prepaid market. <\/p>\n\n\n\n
The group’s key highlights for Q3 FY2025 were as follows: <\/p>\n\n\n\n
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