MTN Group has raised its revenue targets and overhauled its executive team in a bid to sharpen its focus on connectivity, fintech, and digital infrastructure across Africa.
The Johannesburg-based telecoms giant now expects its service revenue to grow by at least “high teens” in the medium term, an upgrade from its previous “mid-teens” guidance.
For the first half of 2025, service revenue climbed 22% to R105.1 billion ($5.97 billion), with Nigeria, Ghana, and Uganda driving the surge for MTN Group. Total revenue increased 20% to R109.26 billion.
The company swung back to profitability, recording R9.7 billion after reporting a R7.39 billion loss a year earlier when currency fluctuations weighed heavily on performance.
MTN’s strong rebound shows what management describes as a disciplined push into high-growth areas. Its fintech operations remain one of the brightest spots, with Nigeria delivering a 71.8% jump in revenue to N83 billion, powered by airtime lending and customer deposits.
Connectivity also saw heavy investment, including 3,700 new sites rolled out in the first half of the year, 327 of which were 5G-enabled. The company is also scaling its digital infrastructure portfolio, anchored by the launch of the Dabengwa Tier III Data Centre, part of a $240 million infrastructure programme spanning fibre and satellite services.
With growth accelerating, the company has reorganised its leadership to match its evolving strategy. Ferdi Moolman, who previously led MTN Nigeria and is currently Group Chief Risk Officer, will take over as CEO of MTN South Africa.
Charles Molapisi returns to the role of Group Chief Technology and Information Officer, with a mandate to drive artificial intelligence adoption across operations. Mazen Mroué will now focus entirely on digital infrastructure, overseeing MTN’s fibre and data centre expansion.
Meanwhile, Karl Toriola, CEO of MTN Nigeria, has been handed additional responsibility for Francophone Africa, including Cameroon, Côte d’Ivoire, and Benin.
The company said the changes align with its Ambition 2025 plan, which aims to transform MTN into Africa’s leading digital platform. By simplifying operations and strengthening leadership across its core platforms, MTN is positioning itself to capture opportunities in financial inclusion, broadband expansion, and technology-driven services.
“The executive changes are about positioning our leadership team to accelerate our strategic priorities,” MTN said in its update.
The tech giant is no longer simply chasing growth in traditional telecoms; its focus is now on a future where data, financial services, and infrastructure will bolster competition, not just against African competitors, but against global tech giants eyeing the continent.
