MTN Group, Africa’s largest telecoms operator, has rebounded to an annual profit and declared a dividend exceeding guidance, with plans to buy back shares. The strong performance in 2025 was driven by growth in MTN Nigeria and MTN Ghana, as well as 3.6 billion rand in cost savings.
The company posted a profit before tax of 47.4 billion rand ($2.81 billion) for the year ended December 31, 2025, compared to a restated loss of 4.1 billion rand in 2024. MTN’s service revenue rose 22.7% to 218.5 billion rand, led by strong growth in Nigeria and Ghana.
The operator declared a final dividend of 500 cents per share, up 45%, and plans to introduce an enhanced framework targeting an annual distribution of 40% to 60% of equity-free cash flow in shareholder remuneration. The board has approved a buyback of up to 6 billion rand, to be executed over three years from 2026.
Group CEO Ralph Mupita said the company would prioritize shareholder remuneration, with a minimum cash dividend of 40% of equity-free cash flow and an additional 20% available for further cash payouts or share repurchases. MTN shares surged 7.4% at market opening in Johannesburg before paring gains to trade 4.8% higher.
