Overview of MTN
MTN Group is Africa's largest multinational telecom operator. It runs networks in 16 countries in Africa and the Middle East, including South Africa, Nigeria, Ghana, Uganda, and Côte d'Ivoire. At the end of 2024 it had about 291 million users, up 2.2% year on year; 157.8 million active data users, up 7.7%; and 63.1 million monthly active MoMo users. Fintech transactions reached 20.3 billion, up 15.3%. FY2024 group service revenue was ZAR 177.8 billion, down 15.4% year on year in reported currency, mainly because of naira depreciation in Nigeria and the conflict in Sudan, and up 13.8% in constant currency. Data traffic reached 19,459 PB, up 32.6% year on year.
For businesses, MTN supplies pan-African IoT connectivity, dedicated APNs, connection management, and MoMo payment integration for connected vehicles, smart agriculture, and smart metering.
MTN facts
- Founded: 1994 (South Africa)
- Headquarters: Johannesburg, South Africa
- Markets: 16 countries (South Africa, Nigeria, Ghana, Uganda, Côte d'Ivoire, and others)
- Users at end of 2024: about 291 million
- Data users: 157.8 million (up 7.7% year on year)
- MoMo monthly active users: 63.1 million; 20.3 billion transactions
- FY2024 service revenue: ZAR 177.8 billion
- Main markets: South Africa ZAR 43.2 billion, Nigeria ZAR 40.8 billion, Ghana ZAR 25.2 billion, Uganda ZAR 15.3 billion
History and milestones
MTN was founded in South Africa in 1994, entered Uganda in 1996 and Nigeria in 1998, and quickly became one of Africa's largest mobile operators. In the 2000s it expanded into Ghana, Cameroon, Côte d'Ivoire, and other countries. In the 2010s it launched MoMo mobile payments. In 2019 it started the Ambition 2025 strategy, focused on pan-African digital services, fintech, and IoT. Through the 2020s it has kept extending 5G and data services. In 2024 data traffic rose 32.6% year on year, and fintech became the group's main growth engine.
Core technical capabilities
Pan-African coverage
Networks in 16 countries and 290 million users, the largest pan-African operator
Data growth
158 million data users; data traffic up 32.6% year on year
MoMo fintech
63.1 million monthly active users and 20.3 billion transactions
5G rollout
Commercial 5G in several countries, for industrial IoT and connected vehicles
IoT applications
MTN offers pan-African IoT connectivity, dedicated APNs, a connection-management platform, and MoMo payment integration. NB-IoT and LTE-M are deployed in its main markets for smart metering, asset tracking, and agricultural monitoring. Connected-vehicle and smart-city projects are in service in Nigeria, South Africa, Ghana, and other countries. It works with global IoT platforms so enterprises can deploy across borders.
Competitive advantages
- Pan-African scale: 16 countries and 290 million users, the largest pan-African operator
- MoMo: A leading fintech service used in consumer IoT and payments
- Data traffic: Strong growth that supports IoT and digital services
- South Africa and Nigeria: The two markets together account for nearly half of revenue