MTN Group Limited (JSE:MTN)

Revenue by Segment

Financials in millions ZAR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Wireless Communications Services	226.76B	188.59B	221.30B	207.04B	181.65B
Wireless Communications Services Growth	20.24%	-14.78%	6.89%	13.98%	1.22%
Total	226.76B	188.59B	221.30B	207.04B	181.65B
Total Growth	20.24%	-14.78%	6.89%	13.98%	1.22%

Revenue by Geography

Financials in millions ZAR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
South Africa	51.09B	52.60B	51.81B	50.64B	48.72B
South Africa Growth	-2.86%	1.52%	2.30%	3.95%	7.13%
Nigeria	61.69B	41.04B	74.27B	77.26B	60.05B
Nigeria Growth	50.32%	-44.74%	-3.87%	28.66%	3.57%
Uganda	17.89B	15.46B	13.18B	10.13B	8.55B
Uganda Growth	15.73%	17.26%	30.20%	18.45%	2.75%
Other South and East Africa (SEA)	10.12B	9.05B	9.74B	5.90B	5.98B
Other South and East Africa (SEA) Growth	11.78%	-7.04%	65.07%	-1.29%	1.43%
Ghana	35.73B	22.64B	20.77B	18.03B	19.19B
Ghana Growth	57.80%	9.01%	15.20%	-6.02%	11.26%
Côte D’Lvoire	10.03B	9.40B	10.30B	8.92B	8.90B
Côte D’Lvoire Growth	6.64%	-8.74%	15.52%	0.17%	1.45%
Cameroon	13.45B	11.06B	9.91B	7.73B	7.24B
Cameroon Growth	21.59%	11.69%	28.19%	6.67%	8.35%
Other West and Central Africa (WECA)	12.93B	14.88B	16.06B	13.60B	12.67B
Other West and Central Africa (WECA) Growth	-13.08%	-7.36%	18.07%	7.36%	4.16%
Sudan	2.19B	786.00M	3.48B	4.03B	2.23B
Sudan Growth	178.88%	-77.44%	-13.59%	81.13%	-32.67%
Unallocated	30.04B	27.48B	26.84B	25.88B	19.08B
Unallocated Growth	9.32%	2.38%	3.71%	35.59%	-7.43%
Eliminations	-18.46B	-16.90B	-17.93B	-20.61B	-17.71B
Afghanistan	-	498.00M	2.62B	2.18B	2.09B
Afghanistan Growth	-	-81.02%	20.37%	4.21%	-9.44%
Zambia	-	-	-	3.32B	2.43B
Zambia Growth	-	-	-	36.52%	-5.71%
Other Middle East and North Africa (MENA)	-	-	-	-	2.23B
Other Middle East and North Africa (MENA) Growth	-	-	-	-	-53.57%
Total	226.71B	188.00B	221.06B	207.00B	181.65B
Total Growth	20.59%	-14.95%	6.79%	13.96%	1.27%

Source: S&P Global Market Intelligence.