MTN Nigeria
MTN Group has given consent to a R6 billion ($375 million) share buyback after reporting strong first-half results, with earnings, subscribers and data usage all recording significant growth. The telecommunications giant said the repurchase programme will begin after the current closed period and will be carried out by an independent broker in line with shareholder approvals, Johannesburg Stock Exchange requirements and applicable laws. “Shareholders are advised that the MTN Board has confirmed the implementation of the R6 billion share repurchase programme, which will commence following the end of the current closed period,” the company said.
The group’s EBITDA rose 24.4% to R56 billion in constant currency terms, while service revenue increased 9.7% to R115.3 billion on a reported basis and 17.5% in constant currency. MTN’s subscriber base grew 6.7% to 317.7 million, while active data users climbed 9.1% to 179.3 million. Data revenue jumped 21% to R57.6 billion, with data traffic also rising 22.8% to 14.3 petabytes as customers increasingly rely on mobile connectivity.
MTN’s fintech business also gained momentum, with Mobile Money monthly active users increasing 12.1% to 70.8 million and transaction volumes rising 17.2% to 13 billion. “MTN delivered a strong consolidated first-half performance in 2026, with growth in our subscriber base accelerating in Q2 2026. We combined double-digit service revenue growth with record EBITDA margins, robust free cash flow generation and a resilient balance sheet.” The company also reached settlement terms with the Syrian government over its former investment, with $43.9 million expected upon completion of the remaining legal formalities.
The latest group performance follows a strong showing by MTN Nigeria, which posted N1.09 trillion profit before tax in the first half of 2026, representing a 75.4% year-on-year increase. MTN Group expects service revenue growth to accelerate in the second half, supported by the normalisation of airtime lending in Nigeria, the full impact of earlier pricing adjustments and improving performance in South Africa. With subscribers, data demand and fintech activity continuing to expand, the buyback gives shareholders another reason to watch MTN’s next phase of growth closely.
