MTN's service revenue rises over 17% as Nigeria recovers
South Africa's MTN Group said on Monday, 9 November, its service revenue rose more than 17% in constant-currency terms in the nine months ended 30 September, helped by a recovery in Nigeria and continued strong performance in Ghana.
Delegates walk past the MTN logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa on 7 February 2024. Reuters/Esa Alexander
Africa's biggest telecoms operator said third-quarter service revenue increased 16.6%.
The company, which has been exploring banking licences in select markets to expand lending from its own balance sheet, posted group service revenue of R176.2nm ($10.68bn) in the nine months to 30 September.
MTN said it expects fintech revenue growth for full-year 2026 to remain below its medium-term target range after disruptions to its Airtime Advance business in Nigeria, although it expects the service to recover to pre-suspension levels by the end of the year($1 = R16.4912).
Source: Reuters
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