MTN Nigeria has emerged as the largest single contributor to MTN Group’s service revenue in the first half of 2026, accounting for 30.6% of the telecoms group’s ₦9.68 trillion service revenue, while also delivering faster revenue and earnings growth than its South African parent market.
The South African telecoms group also disclosed that it is accepting Nigeria’s competition regulator’s condition that it must sell 30% of the Nigerian component of IHS Towers “business at market prices over time” before it can approve MTN’s planned takeover of the tower company.
MTN Group reported today that service revenue of R115.3 billion, equivalent to approximately ₦9.68 trillion using the CBN exchange rate of R1 = ₦83.9728, for the six months ended June 30, 2026.
MTN Nigeria, the local business unit which is also the nation’s largest mobile network operator by subscriber base generated about ₦2.97 trillion, representing 30.6% of the MTN Group service revenue. MTN Nigeria’s contribution was also significant to the group profitability, with its R19.87 billion EBITDA, equivalent to approximately ₦1.67 trillion, accounting for 35.5% of Group EBITDA.
The performance reinforces Nigeria’s position as a critical growth engine for Africa’s largest mobile operator, despite temporary disruption to airtime advance services during the reporting period.
MTN Group said its overall service revenue increased 9.7% on a reported basis and 17.5% in constant currency, while EBITDA before once-off items rose 20% reported and 24.4% in constant currency to R56 billion, or approximately ₦4.70 trillion.
The Group’s EBITDA margin also improved from 42.7% to 47.1% on a reported basis and reached 47.6% in constant currency.
Nigeria delivers strongest major-market contribution
MTN Nigeria’s service revenue increased 25.7% in…
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