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South Africa telco MTN's service revenue rises 26% on Nigeria, Ghana growth
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South Africa's MTN reported a 25.9% rise in service revenue for the nine months to September, driven by strong growth in Nigeria and Ghana. Excluding currency effects, revenue increased by 22.6%. MTN Nigeria's service revenue rose 57.1%, and MTN Ghana's by 35.9%. Data revenue grew 40%, and fintech revenue by 35.7%. MTN's customer base expanded by 5% to 301 million. The company plans to expand its AI-powered digital inclusion initiative with Microsoft across Africa by 2026.
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