MTN Group’s service revenue increased by 17.5% in the first half of 2026, reaching R115.3 billion (approximately US$6.59 billion). This significant growth was primarily driven by strong performances in Ghana and Nigeria.
Ghana emerged as the best-performing major operation within the telecommunications group. Its service revenue grew by an impressive 32.3% in constant currency to R22.1 billion (US$1.26 billion). This strong showing highlights Ghana's crucial role in the Group's overall financial health and expansion.
This robust performance by MTN Ghana comes amid broader economic shifts and increased digital adoption across the country. The telecommunications sector remains a vital engine for Ghana's digital transformation agenda. Data consumption and mobile money services continue to expand rapidly, reflecting changing consumer habits and the growing digital economy. This trend aligns with the government's push for a cashless society and greater financial inclusion.
MTN Group President and Chief Executive Officer Ralph Mupita attributed these positive results to disciplined execution. He also cited continued investment in networks and platforms as key factors. Mupita emphasized the strength of MTN’s diversified African portfolio in achieving these outcomes.
The strong financial results from MTN Ghana indicate continued investment and expansion in the country's digital infrastructure. This will likely lead to further enhancements in network quality and service offerings. Decision-makers in Ghana's regulatory bodies will closely monitor this growth. They will ensure fair competition and consumer protection within the rapidly evolving telecommunications market. Investors will also watch for sustained profitability and market share gains in this key region.
For the six months ending June 30, 2026, MTN Group’s earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 24.4% to R56.0 billion (US$3.20 billion). The Group’s constant-currency EBITDA margin improved by 3.1 percentage points, reaching 47.6%. This reflects both stronger revenue growth and improved operating efficiencies across its African operations. MTN’s customer base expanded by 6.7% to 317.7 million, with active data subscribers increasing by 9.1% to 179.3 million. Data traffic surged by 22.8%, contributing to a 29.2% growth in data revenue in constant currency.
MTN Ghana’s EBITDA rose by 40% to approximately R13.7 billion (US$783 million). Its EBITDA margin increased by 3.4 percentage points to 61.8%. This represents the highest margin recorded by any of MTN’s major operations. Data revenue in Ghana grew by 47.3%, supported by a 17% increase in active data subscribers to 21.3 million. Average monthly data consumption also rose by 38% to 19.3GB per user. Data now accounts for 58.7% of MTN Ghana’s service revenue, up from 52.8% a year earlier. Digital revenue almost doubled, rising by 97.5%, while mobile money revenue increased by 23.7%. Active Mobile Money users reached 18.3 million, marking the largest active mobile money customer base disclosed by any single MTN operation. Mobile Money contributed 23.4% of MTN Ghana’s total service revenue. Profit after tax for MTN Ghana increased by 41.4%, reinforcing its position as one of the Group’s most profitable and fastest-growing businesses. Ghana contributed 19.2% of Group service revenue and 24.5% of Group EBITDA, despite having a smaller population and subscriber market than Nigeria.