MTN reports 36.1% revenue surge

By Christabel DANSO ABEAM     

MTN Ghana has recorded a 36.1 percent year-on-year increase in revenue for 2025.

This increase was backed by strong growth in data, mobile money, digital and voice services, as well as rising customer engagement across its platforms.

According to Board Chairman of Scancom PLC Ishmael Yamson, the company’s performance reflects a combination of expanding digital adoption and improving macroeconomic conditions, which supported business activity and consumer spending during the year.

He made these remarks at the company’s annual general meeting (AGM) held in Accra.

“This growth, combined with disciplined cost management, resulted in a 43.59 percent increase in earning before interest, taxes, depreciation and amortisation (EBITDA), with margins improving from 57.1 percent to 60.1 percent. Profit after tax rose by 55.9 percent, mirroring our ability to capitalise on improving market conditions,” he added.

Buoyed by this performance, the board of directors has recommended a final dividend of 40 pesewas per share payable on April 10, 2026.

This brings total dividend for the year to 48 pesewas per share, including an interim dividend of 8 pesewas paid in September – amounting to a total of GH¢6.4billion or 81 percent profit after tax.

It marks a 57.4 percent increase in dividend per share over the previous year.

The results were further attributed to a stable economic conditions in 2025 , characterised by declining inflation, a stronger cedi and improving fiscal discipline.

Mr. Yamson said that interventions by the Bank of Ghana, coupled with tighter monetary and fiscal policies helped restore confidence in the economy, which directly affected the company’s dealings.

He also noted that MTN Ghana’s strong showing was supported by its continued investment in digital and financial inclusion.

“The company expanded network coverage, rolled out device financing programmes and enhanced digital skills training – increasing access to mobile money and digital services, particularly among underserved populations such as women and rural communities,” he highlighted.

Tax contribution

In fiscal terms, MTN Ghana reaffirmed its role as a major contributor to the economy by paying GH¢10.5billion in direct and indirect taxes and an additional GH¢1.3billion in fees and levies to government agencies in 2025.

Mobile Money

Mobile Money revenue, according to Stephen Blewett, Chief Executive Officer (CEO) of MTN Ghana, increased by 35.7 percent year-on-year (YoY) to reach GH¢6billion.

He stated that the strong performance was underpinned by a 12.3 percent YoY increase in active users, which led to an expansion of the Mobile Money user base to 19.3 million by end-2025.

“The active user growth was significantly supported by government’s removal of the e-levy, which lowered transaction costs and made digital financial services more accessible and attractive to a broader segment of the population.

“As a result, we witnessed increased customer onboarding, higher transaction volumes and greater engagement with our suite of Mobile Money products,” the CEO underscored.

Revenue from basic services also grew, by 27.2 percent YoY, primarily due to increased withdrawal and transfer activity.

Meanwhile, advanced Mobile Money services – encompassing digital payments, lending, savings and insurance solutions – recorded good growth, increasing by 55.9 percent YoY to GH¢2billion.

This growth, he indicated, reflects the increasing customer trust in digital financial services and the expanding range of innovative products offered through the MoMo platform.

Digital services

On digital revenue, the CEO disclosed that it grew at 10.9 percent YoY to                      GH¢479million. This performance was attributed to an increase in paying digital subscribers, which rose to 5.4 million in 2025.

The expansion of digital revenue was attributed to several key factors:

Firstly, a progressive enhancement of video streaming and gaming services – incorporated with more interactive features, exclusive content and seamless user interfaces.

Secondly, a strategic partnership forged with leading global and regional content providers – further diversifying and enriching digital offerings.

These collaborations enabled the company to deliver an even broader selection of high-quality content and interactive experiences, catering for the evolving preferences of its diverse customer base.

In addition, targetted digital marketing campaigns and customer engagement initiatives successfully attracted new users and encouraged higher conversion rates among existing users.

As a result, digital revenue’s share of total service revenue rose to 2.0 percent, up from 1.8 percent last year – underscoring the accelerating momentum of MTN’s digital transformation journey and growing importance of digital services within the company’s overall business strategy.

Outlook for 2025

Looking ahead, MTN is optimistic about growth prospects in 2026 supported by infrastructure investment, easing inflation and continued expansion in the ICT sector.

However, the Board Chair cautioned that global uncertainties – including geopolitical tensions and rising oil prices – pose risks to import-dependent economies such as Ghana.

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