MTN service revenue rises 17.2% in first nine months of 2026

Monday 9th November 2026

By inAfrika Newsroom

MTN Group said service revenue rose 17.2% to 176.2 billion rand in the nine months to 30 September 2026, after adjusting for currency changes. Nigeria and Ghana helped drive the increase, while third-quarter service revenue was flat in South Africa.

Earnings before interest, tax, depreciation and amortisation rose 22.9% to 86 billion rand in the nine-month period. The EBITDA margin widened by 2.8 percentage points to 47.9%, according to MTN’s 9 November trading update.

Nigeria’s third-quarter service revenue rose 19.7%, up from 13.2% growth in the second quarter. Ghana’s service revenue rose 35.7% in the third quarter, with gains across data, voice, digital services and mobile money. South African service revenue grew 1% over nine months, with prepaid voice and lower call termination rates weighing on the business.

MTN said free cash flow reached 22.4 billion rand. Its proposed purchase of IHS Holdings had shareholder approval and regulatory clearances in Nigeria and from the Common Market for Eastern and Southern Africa. Further regulatory steps remained, and MTN expected completion by year-end.

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