MTN Group is a Pan-African digital operator, serving 307.2 million customers across 16 markets. Robust operational and governance oversight structures underpin our growth strategy. In November 2025, we streamlined our operating model for greater efficiency and growth. As a result, our operations are organised as follows: South Africa; Nigeria; Ghana; SEA; and Francophone Africa.
Δ Equity accounted, not under MTN operation.
| MTN Group effective shareholding |
Subscribers | ||
 |
MTN South Africa | 100.0% | 40.6m |
 |
MTN Nigeria | 76.3% | 87.3m |
 |
MTN Ghana | 72.9% | 31.2m |
| SEA |
 |
MTN Uganda | 76.0% | 24.2m |
 |
MTN Rwanda | 80.0% | 8.2m |
 |
MTN Zambia | 89.8% | 7.0m |
 |
MTN South Sudan | 100.0% | 4.2m |
 |
MTN Sudan | 85.0% | 3.2m |
 |
LonestarCell (MTN Liberia) | 60.0% | 2.2m |
| Francophone Africa |
 |
MTN Cameroon | 80.0% | 13.1m |
 |
MTN Côte d'Ivoire | 66.8% | 15.3m |
 |
MTN Benin | 75.0% | 6.4m |
 |
MTN Congo-Brazzaville | 100.0% | 3.9m |
| Associates, JVs and other investmentsΔ |
| Irancell GroupΔ | 49.0% | 57.6m |
 |
Mascom BotswanaΔ | 53.1% | 1.9m |
 |
MTN EswatiniΔ | 30.0% | 1.1m |
| The Group also has investments in aYo (50%); IHS Group (24.7%); Snapp Group (29.5%); Middle East Tech Ventures Holding (50.0%) and others. |
+22.7%* to R218.5bn
service revenue
+36.4%* to R101.5bn
data revenue
+23.2%* to R30.3bn
fintech revenue
+36.8%* to R98.5bn
EBITDA
17.0%*
capex intensity
R38.5bn
capex (ex-leases)
by geography %
by services %
by geography %
