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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

Our approach to materiality

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At MTN, we recognise the interconnectedness of our operations, the environment and society. We embrace double materiality, considering both financial and impact perspectives in our reporting. Our reporting suite reflects this dual lens, anchored in dynamic materiality and aligned with leading global reporting codes and standards. As the impact of issues can switch between financial and sustainability relevance over time, our annual assessment of material matters is underpinned by dynamic thinking and drives sustainable shared-value creation for our stakeholders.

Our materiality process is led by Investor Relations and is subject to review by the Executive Committee (Exco) and Board of Directors.
 
1
Identification
Identify potentially relevant material topics for consideration including:
  • Global and industry sustainability matters.
  • Matters identified in our 2024 reports.
  • Matters raised by stakeholders in our Reputation Index Survey.
  • Internal documents, including Board packs and risk registers.
  • Matters disclosed in peers' reports.
  • Emerging matters in the media.
 
2
Evaluation
Evaluate the impact of management decisions on value creation.
Factors considered include:
  • Financial performance.
  • Regulatory compliance.
  • Stakeholder expectations.
  • Innovation, growth and competitiveness.
  • Scale, scope and character of external impacts.
 
3
Prioritisation
Prioritise matters based on the likelihood of occurrence and the magnitude of impact by:
  • Hosting a special workshop for senior representatives of all key departments.
  • Discussing and agreeing on the final rankings of material matters.
  • Submitting final scores to the Exco and Board for review.
  • Using the outcomes to guide the content of our IR, SR and all Financial Reporting.
 
4
Strategic integration
Ensure alignment and integration with our strategic priorities by:
  • Establishing appropriate management actions to capitalise on factors that offer opportunities for greater value creation.
  • Implementing interventions to mitigate those matters that could potentially disrupt value creation.
Given the dynamic nature of our material matters, our annual materiality determination process also assesses any shifts between impact and financial materiality.
Dynamic materiality
Financial materiality
Impact materiality
Significant external impacts inform Sustainability Reporting
Most significant impacts (double materiality) inform Integrated Reporting
Low impacts (manage and monitor)
Significant financial impacts inform Financial Reporting
map

The outcomes of our 2025 materiality determination process can be found on Material matters impacting value creation

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About MTN
Board of Directors Executive Committee
Reporting centre
Annual reports Financial results
Definitions and glossary
Definitions for assured non-financial data Glossary Administration
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