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All about MTN
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Welcome to our 2025 Integrated Report
Our reporting suite
Our approach to integrated thinking and value creation
Our approach to materiality
About this report
An overview of MTN Group
Where we operate and how we perform
Views from our Chairman
Q&A with the Group President and CEO
Q&A with the Group CFO
Key financial tables
Our market context
Operational performance summary
Our outlook
Investment case – Transforming Africa's growth potential

How we create and preserve value
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Creating and preserving value through our business model
Outcomes and trade-offs
Material matters impacting value creation
Social, Ethics and Sustainability Committee Chair's review
Stakeholders with whom we partner to create value
Audit Committee Chair’s review
Risk Management and Compliance Committee Chair’s review
How we manage risk
Top risks to value creation
Delivering value through our strategy
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Finance and Investment Committee Chair’s review
Our Ambition 2030 strategy
Meaningful value delivered by Ambition 2025
Our strategic performance dashboard
Connectivity
Fintech
Digital infrastructure
Create shared value

Governance and remuneration
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Directors' Affairs and Governance Committee Chair’s review
Governance in support of value creation
Our Board of Directors
Governance in support of value creation
Our Executive Committee
Human Capital and Remuneration Committee Chair's review
Remuneration Report summary
Definitions for assured non-financial data
Independent assurance practitioner’s limited assurance report
Glossary
Administration
All about MTN

Investment case – Transforming Africa's growth potential

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Ambition 2030 highlights the Group's key differentiators and how we leverage these to capture opportunities. Our compelling investment case is underpinned by the growth opportunities arising from the structural demand for data and fintech in our markets. We aim to capture these opportunities through disciplined capital allocation and by strengthening our risk and regulatory frameworks. We are committed to executing our strategy while creating shared value in our host markets, with sustainability at the core.

1

Structural growth opportunities, powered by Africa's demographic dividend

  • Structural demand for data and financial services in our markets
  • Underpinned by young, fast-growing populations driving exponential digital and fintech adoption
2

Uniquely positioned to capture value as Africa's largest and scale digital-services provider

  • Leading customer base, infrastructure and coverage in the markets we serve
  • Speed and agility in strategy execution through three focused platforms
3

Well-developed financial framework underpins strategy delivery, financial performance and returns

  • Disciplined capital allocation for strong growth and cash generation, resilient balance sheet and attractive ROCE
  • Compelling shareholder remuneration policy incorporating dividends and share buybacks
4

MTN is purpose-led with an enduring commitment to create shared value for our communities and nation states

  • We are closing Africa's digital and financial divide and remain its leading socioeconomic development partner
  • Strong track record of sustainability leadership in Africa and beyond