MTN Reports Nigeria-Led Recovery as Group Service Revenue Rises 17.2%
MTN Group says its Nigerian operation returned to stronger growth during the third quarter, helping the pan-African telecommunications company increase service revenue in the first nine months of 2026.
In its quarterly update for the period ended 30 September, the group reported that service revenue rose 17.2 per cent in constant-currency terms compared with the same period in 2025. On a reported rand basis, service revenue increased 9.9 per cent to R176.2 billion.
The company said momentum improved in Nigeria during the quarter. MTN Nigeria’s service-revenue growth reached 19.7 per cent in the third quarter and 21.6 per cent in September, according to the group’s update.
Data demand remains central
Across the group, data revenue increased 28.2 per cent in constant-currency terms and accounted for just over half of service revenue. Active data subscribers rose 9.6 per cent to 181.7 million, while total customers increased to 322.9 million.
MTN also reported earnings before interest, tax, depreciation and amortisation growth of 22.9 per cent in constant currency, with its margin rising to 47.9 per cent.
Fintech revenue increased more slowly than the group’s medium-term target. MTN said one factor was the temporary suspension of its Airtime Advance service in Nigeria during the second quarter. The company expects the service to recover under a new multi-partner model.
Understanding the figures
Constant-currency growth is used to show underlying operating movement without the full effect of exchange-rate changes. Reported rand figures were lower partly because a stronger rand reduced the translated value of earnings from operations outside South Africa.
The figures are company-reported results and have not been independently audited by MBTV. They nevertheless provide a current view of mobile-data demand, customer growth and the importance of the Nigerian business to the wider group.
Sources: MTN Group quarterly market announcement; Reuters report on the results.
Featured image: illustrative telecommunications-tower photograph by Jean-Baptiste D./Unsplash. It does not depict a specific MTN installation.