Total subscribers
up 4.7% to
297.7m
Active data subscribers
increased by
10.3%
to 164.4m
Data traffic
up 29.1%
to 11.7PB
Mobile Money (MoMo)
monthly active users (MAU)
up 1.8% to 63.2m
Fintech transaction volumes
up 14.5% to 11.1bn
Group service revenue
increased by 23.2% to
R105.1bn on a reported
basis;
up 22.4%*
in constant currency (CC)
Data revenue
increased 36.5% on a
reported basis;
up 34.3%*
in CC
Fintech revenue
increased by 37.3% on
a reported basis;
24.9%*
in CC
“The Group reported a pleasing set of results, driven by strong commercial execution, disciplined capital allocation and improved macroeconomic conditions. We are encouraged by the acceleration in our topline and recovery in our profitability and free cash flow generation."
Ralph Mupita
Group President and CEO
Any forward-looking information disclosed in this results announcement, including the dividend guidance, is the responsibility of the directors of MTN and has not been reviewed or audited or otherwise reported on by our external auditor.
Certain information presented in these interim results constitutes pro forma financial information and constant currency information. This pro forma financial information and constant currency information has not been audited or reviewed or otherwise reported on by MTN’s external auditor. The responsibility for preparing and presenting the pro forma financial information and constant currency information for the completeness and accuracy of the pro forma financial information and constant currency information is that of the directors of MTN. This is presented for illustrative purposes only. Because of its nature, the pro forma financial information and constant currency financial information may not fairly present MTN’s financial position, changes in equity, and results of operations or cash flows.
The pro forma financial information presented in the interim financial results for the period ended 30 June 2025, has been prepared excluding the impact of impairment of goodwill, PPE, intangibles and associates, impairment loss on remeasurement of disposal group, gain on disposal/dilution of investment in JV/associate/subsidiary and fair value gain on acquisition of subsidiary, net (gains)/losses (after tax) on disposal of SA towers, net profit on disposal of PPE and intangibles, hyperinflation, impact of foreign exchange losses and gains, reversal of deferred tax asset and other non-operational items (collectively the “Pro forma adjustments”) and constitutes pro forma financial information to the extent that it is not extracted from the segmental information included in the reviewed consolidated financial results for the six months ended 30 June 2025. This pro forma financial information has been presented to eliminate the impact of the pro forma adjustments from the consolidated results for the period ended 30 June 2025 to achieve a comparable year-on-year (YoY) analysis. The pro forma adjustments have been calculated in terms of the Group accounting policies disclosed in the consolidated financial statements for the year ended 31 December 2024.
Constant currency information has been presented to remove the impact of movement in currency rates on the Group’s results and has been calculated by translating the prior financial reporting period’s results at the current period’s average rates. The measurement has been performed for each of the Group’s currencies, materially being that of the US dollar and Nigerian naira. The constant currency growth percentage has been calculated after translating prior year results at current year rates. In addition, in respect of MTN Ghana, MTN Irancell, MTN Sudan and MTN South Sudan the constant currency information has been prepared excluding the impact of hyperinflation. The economies of Ghana, Sudan, South Sudan and Iran were assessed to be hyperinflationary for the period under review and hyperinflation accounting was applied.
The Group’s results and segmental report are presented in line with the Group’s operational structure. The Group’s underlying operations are clustered as follows: South Africa (SA), Nigeria, the Southern and East Africa (SEA) region, the West and Central Africa (WECA) region and the Middle East and North Africa (MENA) region and their respective underlying operations.
The SEA region includes Uganda, Zambia, Rwanda, South Sudan, Botswana (joint venture-equity accounted) and Eswatini (joint venture-equity accounted). The WECA region includes Ghana, Cameroon, Côte d’Ivoire, Benin, CongoBrazzaville and Liberia. The MENA region includes Iran (joint venture-equity accounted) and Sudan.
Although Iran, Botswana and Eswatini form part of their respective regions geographically and operationally, they are excluded from their respective regional results because they are equity accounted for by the Group.
