MTN Ghana's service revenue surges by 36.3% in third quarter

MTN Ghana, a subsidiary of JSE-listed MTN Group, maintained its solid growth trajectory of the first half with service revenue increasing by 36.3% in the third quarter to end September 2025, compared with the same period last year.

The number of mobile subscribers increased by 6.4% to 30.5 million. The number of active data subscribers increased by 11.4% to 18.9 million. The number of active mobile money subscribers increased by 4.1% to 17.7 million.

Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 41.6% to GHS10.2 billion. Profit after tax (PAT) increased 45.9% to GHS5.5bn. Total capital expenditure increased to GHS4.6bn from GHS3.3bn.

“MTN Ghana’s performance was driven by the consistent execution of our commercial strategy, resulting in a 6.4% year-on-year (YoY) growth in our subscriber base and a 36.3% YoY increase in service revenue. This was supported by sustained capital expenditure investments as well as improvements in the operating environment,” said the CEO, Stephen Blewett.

The Ghana cedi had strengthened in the second quarter but weakened slightly in the third quarter, but the overall macroeconomic landscape showed signs of improvement and inflation eased through the third quarter, ending at 9.4% in September 2025. Consequently, the year-to-date average was 17.3%, compared with 22.9% in the same period in 2024.

MTN Ghana acquired additional spectrum, obtained a universal access license, and received approval from the National Communications Authority to harmonise the expiration dates of most of the existing licenses.

“This is a positive development for the telecoms industry, our customers and especially the country, as it will improve our ability to serve them with better connectivity and innovative services. This investment demonstrates our dedication to supporting Ghana’s digital transformation and increasing our network capacity,” said Blewett.

It would also optimise the use of existing spectrum bands, enhance network performance and support the year-on-year growth in data traffic.

To support revenue growth, network infrastructure and IT systems were upgraded, which helped enhance customer experience and advance the delivery of 4G technology. The upgrades increased service reliability and provided stable connections for customers in peak usage times.

“The improvements helped us gain over 1.8 million new users year-on-year. Additionally, they enabled us to handle the rising demand for high-speed data services, leading to a 57.3% increase in data traffic year-on-year,” said Blewett.

“We remain optimistic about MTN Ghana’s growth outlook, including for the remainder of 2025. Our commitment to executing the Ambition 2025 strategy has been key to maintaining our growth and providing returns to shareholders. We will keep focusing on managing our operational costs effectively to protect margins and increase profitability,” said Blewett.

The adoption of advanced artificial intelligence tools in CVM (customer value management) initiatives would be a priority to improve customer satisfaction and engagement. Furthermore, the scaling of the group platforms would continue, including ongoing development of the myMTN and MoMo apps, by adding innovative services to meet customers’ changing needs.

“We will keep introducing advanced features to improve security and enable smooth transactions. By strategically investing in areas with the highest demand, especially in data and home connectivity services, we aim to capitalise on growing market opportunities,” said Blewett.

MTN Ghana Foundation started building a multi-purpose resource centre at the University of Development Studies, Tamale Campus. The digital hub is intended to support over 30 000 students with a skills lab focusing on digital proficiency, AI, robotics, and IoT. 

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