MTN CEO Ralph Mupita Highlights Strong Growth and Ambition 2030 Strategy

MTN Group  President and CEO Ralph Mupita has highlighted strong financial performance, long-term growth opportunities, and a renewed strategic focus in the latest episode of the Y’ello Chair series. Speaking following the company’s 2025 full-year results, Mupita expressed confidence in the Group’s trajectory, citing robust commercial momentum and improved macroeconomic conditions across key markets.

According to Mupita, MTN delivered its strongest service revenue growth in nearly two decades, with a 22.7% increase in constant currency. Earnings rose significantly, alongside a sharp increase in operating free cash flow, reflecting both operational strength and a more stable economic environment in markets such as Nigeria and South Africa. He noted that easing inflation and currency stability played a role in supporting performance, while underlying demand for data services continued to surge.

“We were pleased with the results. The strong commercial momentum in our business, combined with a more supportive macro environment, enabled us to deliver one of our best performances in many years.”

– Ralph Mupita, President and CEO, MTN Group

Looking ahead, Mupita outlined MTN’s “Ambition 2030” strategy, which is built around three core platforms—connectivity, fintech, and digital infrastructure. The strategy aims to expand internet access across Africa, deepen financial inclusion, and scale digital services to meet growing demand. He emphasized that millions of Africans remain underserved, presenting a significant long-term opportunity for growth.

The CEO also pointed to rising demand for data and digital services, particularly in Nigeria, where structural reforms and currency adjustments have reshaped the operating environment. Despite short-term challenges, he said MTN’s strategy has remained consistent, focusing on investing in infrastructure and capturing long-term demand across its markets.

On digital infrastructure, Mupita highlighted a shift toward greater ownership and control of critical assets such as fibre networks, data centres, and telecom towers. He noted that MTN’s proposed acquisition of additional shares in tower company IHS reflects a broader strategy to unlock value and strengthen operational efficiency, while maintaining open-access models for other operators.

Mupita further revealed that MTN is increasingly adopting a pan-African approach to infrastructure investments, with initiatives such as its Baobab fibre network and partnerships to expand connectivity across the continent. He stressed that owning and co-investing in infrastructure will be key to supporting future technologies, including artificial intelligence and next-generation networks.

Beyond financials and strategy, Mupita addressed geopolitical and operational challenges, including the Group’s ongoing exit from Middle East markets and its focus on consolidating operations in Africa. He described the global environment as volatile but emphasized the importance of resilience and agility in navigating uncertainty.

Reflecting on industry trends, Mupita said Africa must play an active role in shaping the future of technology, particularly as global powers invest heavily in AI and next-generation connectivity. He warned against the risk of Africa becoming a “digital underclass,” instead positioning technology as a potential driver of the continent’s economic transformation.

As MTN continues to evolve, the Group’s leadership remains focused on leveraging scale, partnerships, and innovation to drive sustainable growth and expand digital and financial inclusion across Africa.