Ralph Mupita, MTN Group President and CEO, has revealed how its strategies assisted in achieving revenue growth and efficiency across its operations in 2024.
MTN focused on expanding its customer base while navigating regulatory challenges in key markets, ensuring compliance with SIM registration requirements, and adjusting operations in conflict-affected areas like Sudan.
Digital adoption initiatives were strengthened to increase active data subscribers and mobile money users.
Enhancing data services and fintech solutions was a priority, leading to improved mobile money user experience, profitability, and engagement, along with the launch of advanced digital financial services to diversify fintech revenue streams.
Operational efficiency and cost management were key areas of focus, with the execution of an expense efficiency program (EEP) resulting in sustainable savings of R3.8 billion, including renegotiated tower lease contracts in Nigeria.
EBITDA margins improved despite inflation and currency fluctuations.
Investments in network expansion and upgrades continued, with R53.3 billion allocated to ensure high-speed connectivity. 3G, 4G, and 5G coverage expanded significantly, reaching an additional 3.8 million, 9.6 million, and 31.3 million people, respectively.
Smartphone penetration increased to 63.9 percent, reflecting digital adoption.
Revenue diversification and service innovation efforts contributed to stable voice revenue, strong data growth, and increased fintech revenues.
MTN Group’s service revenue was R177.756 billion in 2024 by generating sales of R43.175 billion (up 3.1 percent) from South Africa, R40. 755 billion (down 44.8 percent) from Nigeria, R25.191 billion (up 12.1 percent) from Ghana and R15.317 billion (up 17.9 percent) from Uganda.
Customer value management initiatives helped sustain voice revenue. Voice revenue saw a 0.5 percent increase, with notable growth in Nigeria (14.2 percent) and Uganda (12.7 percent), while overall voice traffic grew by 8.9 percent. Excluding mature markets like South Africa and Sudan, voice revenue would have increased by 2.3 percent.
Data revenue saw a substantial increase of 21.9 percent, supported by a 7.7 percent growth in active data subscribers and a 23.1 percent rise in data usage per user to 10.8GB per month.
Total data traffic surged by 32.6 percent, and fintech revenue grew by 28.5 percent, with advanced financial services expanding by 52.0 percent.
MTN’s overall subscriber base reached 291 million, with 9.4 million net additions (excluding Sudan). Active data subscribers stood at 157.8 million.
MTN’s mobile money monthly active users rose to 63.1 million.
Financially, the company’s group EBITDA increased by 10.2 percent to R70.1 billion, with an EBITDA margin of 38.2 percent.
Capex (ex-leases) was contained at R29.9 billion, reducing capex intensity to 15.9 percent from 18.6 percent in 2023. IFRS 16-based capex was R53.3 billion, reflecting strategic investments in network infrastructure.
Looking ahead to 2025, MTN aims to invest between R30–35 billion in capex (ex-leases), continue expanding its 4G and 5G networks, strengthen its fintech ecosystem, enhance cost efficiency strategies, and develop more customer-centric digital services to sustain growth and market leadership.
Baburajan Kizhakedath
