MTN lifts revenue targets, reshapes leadership to drive Africa’s digital future

MTN Group has raised its revenue ambitions and unveiled sweeping executive changes as it sharpens focus on connectivity, fintech, and digital infrastructure across Africa.

The Johannesburg-based telecoms giant now projects service revenue growth in the “high teens” over the medium term—up from its earlier “mid-teens” guidance—reflecting confidence in its accelerating performance.

For the first half of 2025, MTN reported a 22% rise in service revenue to R105.1 billion ($5.97 billion), with Nigeria, Ghana, and Uganda leading the surge. Total revenue climbed 20% to R109.26 billion.

The company swung back to profit, recording R9.7 billion after posting a R7.39 billion loss a year ago, when currency volatility had weighed on earnings.

MTN’s fintech arm remains a major growth driver, with Nigeria delivering a 71.8% revenue leap to N83 billion, propelled by airtime lending and rising customer deposits.

Connectivity also saw significant expansion, with 3,700 new sites rolled out in H1 2025, including 327 5G-enabled sites.

On digital infrastructure, MTN commissioned the Dabengwa Tier III Data Centre, part of its $240 million programme to expand fibre and satellite services across key markets.

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To align with its evolving strategy, MTN has reorganised its leadership. Ferdi Moolman, former CEO of MTN Nigeria and currently Group Chief Risk Officer, has been appointed CEO of MTN South Africa.

Charles Molapisi resumes the role of Group Chief Technology and Information Officer, tasked with driving artificial intelligence adoption across the business. Meanwhile, Mazen Mroué will oversee digital infrastructure, including fibre rollout and data centre growth.

The restructuring reflects MTN’s Ambition 2025 strategy, which aims to transform the group into Africa’s leading digital platform by focusing on 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 statement.

Industry analysts note that MTN’s pivot is no longer about competing with African telecoms rivals alone, but about staking a claim in the digital ecosystem against global technology giants eyeing Africa’s fast-growing markets.