Zimbabwean executive Ralph Mupita leads MTN to $13.5 billion revenue in 2025

MTN Group, Africa’s largest telecom operator, under the leadership of Zimbabwean executive Ralph Mupita, recorded $13.5 billion in revenue in 2025. The powerful financial rebound in 2025 reflects solid growth across key markets,  especially Nigeria and Ghana, as improving economic conditions and disciplined capital allocation strengthened growth across the group’s footprint.

Nigeria leads, Ghana surges strongly
According to its annual financial statements, the pan-African telecom giant delivered strong service revenue in 2025, reporting a 22.59% rise from R188 billion ($11.15 billion) to R226.71 billion ($13.45 billion), lifted by strong contributions from Nigeria, R61.7 billion ($3.7 billion), Ghana, R35.73 billion ($2.12 billion), and its home market, South Africa, R51.09 billion ($3.03 billion). The group also swung from a loss to a profit of R47.43 billion ($2.81 billion), marking one of the biggest financial recoveries in the company’s recent history.

Customer base tops 307 million
MTN expanded its subscriber base significantly during the year, adding 16.3 million customers to reach 307.2 million users across 16 markets. Active data users climbed 9.4% to 172.6 million, while data traffic surged 27% to 24.7 petabytes, underscoring the growing demand for mobile broadband across Africa.

The company’s fintech ecosystem also continued to expand. Monthly active users of its MoMo mobile money platform increased 10% to 69.5 million, while fintech transaction volumes rose 14.9 % to 23.3 billion transactions. The total value of fintech transactions climbed 37.6% to $500.3 billion, highlighting the rising importance of digital financial services in MTN’s growth strategy.

Group President and CEO of MTN, Ralph Mupita, credited the robust results to improved macroeconomic conditions in key markets, disciplined capital allocation, and sustained investment in the company’s networks and digital platforms. “With strong earnings growth, improved macroeconomic conditions and disciplined capital allocation, we are well positioned to capture structural growth opportunities across Africa’s digital economy,” Mupita said.

Assets surge to nearly $30 billion
MTN Group, led by Ralph Mupita, now serves 307.2 million subscribers across 16 markets. His growth-driven execution has fueled expansion and secured his standing among Southern Africa’s most influential CEOs, with his minority stake in MTN valued at over $11 million.

Under his leadership, MTN’s total assets rose 15.51% to R498.71 billion ($29.58 billion) from R431.73 billion ($25.6 billion), while total equity advanced 23.38% to R169.73 billion ($10.07 billion) from R137.57 billion ($8.16 billion).

Dividend increased as balance sheet strengthens
Reflecting the improved financial performance, MTN declared a final dividend of R5 per share, a 45% increase from the R3.45 paid in 2024. The company also announced an enhanced shareholder remuneration framework that combines dividends with a share buyback programme of up to R6 billion over three years beginning in 2026.