MTN Group has reported a strong financial and operational performance for the first quarter of 2026, recording a 21.1% increase in service revenue in constant currency, driven largely by strong momentum in Nigeria, Ghana, Cameroon, and Côte d’Ivoire.
The telecom giant, which now serves 312.7 million subscribers across 19 African markets, said growth was fueled by rising demand for data services and continued expansion of its fintech ecosystem. Data revenue surged by 36.1%, while fintech revenue rose by 22.4% during the quarter.
Nigeria remained MTN’s strongest growth market, posting a 41.7% increase in service revenue, while Ghana recorded 35.7% growth. The company also reported notable contributions from Cameroon and Côte d’Ivoire, reinforcing West Africa’s strategic importance to the Group’s continental operations.
EBITDA increased by 28.3% to 27.6 billion rand, with margins improving to 47.6% as the Group benefited from tighter cost controls and operational efficiency measures. Subscriber numbers rose 5.4% year-on-year, while active data users climbed to 175.6 million.
MTN also continued expanding its fintech footprint, with mobile money transaction volumes growing by 15.8% to 6.3 billion transactions and transaction value rising to $163 billion. Active Mobile Money users reached 67.4 million during the quarter.
According to Group President and CEO Ralph Mupita, the company’s strong start to the year reflects early progress under its “Ambition 2030” strategy, which focuses on digital infrastructure, fintech expansion, and long-term growth across African markets.
Despite ongoing macroeconomic pressures, inflation risks, and currency volatility across parts of the continent, MTN says it remains focused on expanding network capacity, accelerating digital inclusion, and strengthening its position as one of Africa’s leading telecom and fintech operators.
