South African telecommunications giant MTN Group anticipates a dramatic recovery in profits for the 2025 financial year, following a challenging 2024 marked by headwinds. The group projects an increase of over 300% in its earnings per share (EPS), swinging from a loss of 531 cents in 2024 to a range of 1,062 to 1,168 cents in 2025. Headline earnings per share (HEPS) are also projected to rise by over 1,000%, from 98 cents to a range of 1,264 to 1,284 cents.
This notable improvement is primarily attributed to the robust performance of MTN Nigeria and MTN Ghana, which have demonstrated increased profitability due to better revenue growth. The stabilization of the Nigerian naira has also played a crucial role in this recovery. In 2024, the currency's devaluation significantly impacted the group's earnings.
MTN Nigeria recorded a profit after tax of 1.1 trillion naira in 2025, compared to a loss of 400.4 billion naira in 2024. This performance is due to tariff increases, the appreciation of the naira against the dollar, and supportive macroeconomic policies. MTN Ghana also delivered strong gains, with a 36.2% increase in service revenue, reaching 24.4 billion cedis.
Despite these positive prospects, MTN continues to face challenges, including increased competition in the South African market and persistent macroeconomic and geopolitical uncertainties. The group is implementing a strategy focused on operational efficiency and investment in digital infrastructure, including 5G, to support its future growth.
MTN's full financial results for 2025, including adjusted figures for 2024 to reflect adjustments related to MTN Ghana, are expected to be released on March 16. The board has proposed a final dividend of 15 naira per share, bringing the total dividend for the 2025 financial year to 20 naira per share.
