MTN Group

What MTN Group does

MTN Group Limited is a pan-African mobile network operator headquartered in Johannesburg, South Africa, founded in 1994 and listed on the Johannesburg Stock Exchange (JSE: MTN). The group serves 312.7 million subscribers across 19 markets in Africa and the Middle East, making it the continent's largest mobile operator by subscriber base. Under its Ambition 2030 strategy, MTN is organised around three growth platforms: Connectivity (mobile voice, data, broadband and fixed services), Fintech (the MoMo mobile money platform, which processed over $500 billion in transaction value in 2025 and grew revenue 24.9%), and Digital Infrastructure (the Bayobab unit covering towers, fibre, and data centres, which will be substantially expanded by the announced $6.2 billion acquisition of IHS Towers).

The company's underlying technology stack includes 5G network infrastructure with AI-RAN integration developed in partnership with Nvidia, Oracle analytics and cloud infrastructure for data operations, and is being structurally separated to enable minority strategic investments from Mastercard (R3.8 billion) and Ant International in the fintech platform. The product portfolio also includes MTN Business enterprise services, Network-as-a-Service infrastructure offerings, the newly launched MTN One TV streaming platform (developed with Synamedia), and the MTN Pi MVNO sub-brand; the Ayoba super app was discontinued in March 2026 as part of portfolio consolidation.

MTN's revenue model combines subscription-based mobile voice and data services (prepaid pay-as-you-go and postpaid contracts), transaction-based mobile money fees, hardware sales through retail channels, managed enterprise and wholesale digital infrastructure services, and emerging AI compute offerings. The customer base is overwhelmingly mass-market consumer, supplemented by enterprise and government clients, and distributed through MTN retail stores, dealer and reseller networks, MoMo agents, MVNO partnerships (e.g., Standard Bank Connect), and direct enterprise field sales across its 19-market footprint.

Name

MTN Group

Legal name

MTN Group Limited

Website

https://mtn.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MTN Group is Africa's largest mobile network operator, serving 312.7 million subscribers across 19 markets through three platforms: Connectivity, Fintech (MoMo mobile money), and Digital Infrastructure (Bayobab towers, fibre, and data centres).

Ownership category

akta.pro rank

Product category

Mobile Telecommunications Services

NAICS

Wireless Telecommunications Carriers (except Satellite) (517112)

SIC

Radiotelephone Communications (4812)

akta.pro primary industry

Consumer Mobile Network Operators (Retail MNOs) (HDAIAAAA)

akta.pro secondary industries

IoT/M2M Mobile Network Operators (LPWAN, NB-IoT/LTE-M) (HDAIAAAH), International Money Transfer Operators (MTOs) (FSAMAIAE)

Keywords

• Mobile telecommunications services
• Mobile money platform
• Enterprise connectivity solutions
• Digital infrastructure services
• Mobile financial services

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Mobile Voice and Data Services: Core telecommunications revenue from prepaid and postpaid mobile voice minutes, SMS, and data bundle subscriptions. Represents the primary revenue driver across all 19 markets with recurring subscription and usage-based billing.
2. Fintech / Mobile Money (MoMo): Mobile financial services including peer-to-peer transfers, merchant payments, airtime purchase, savings, micro-loans, and international remittances. Generates transaction fees and takes a percentage of money movement through the platform.
3. Device Sales: Sale of mobile handsets, smartphones, and related accessories through retail channels and dealer networks.
4. Enterprise Services: Customized telecommunications and IT solutions for enterprise and government customers including dedicated connectivity, cloud services, IoT, and managed services.
5. Digital Infrastructure (Bayobab): Wholesale and enterprise digital infrastructure including data center colocation, fiber network capacity, and tower infrastructure services provided through the Bayobab subsidiary.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

MTN Group is Africa's largest mobile network operator providing mobile voice, data, and SMS services to 312.7 million subscribers across 19 African and Middle Eastern markets. The company operates three core platforms: Connectivity (prepaid/postpaid mobile services), Fintech (MoMo mobile money platform), and Digital Infrastructure (towers, fibre, and data centres through Bayobab), along with enterprise solutions and digital entertainment (MTN One TV).

Product overview

MTN Group is a pan-African digital operator organized around three core growth platforms: Connectivity (mobile voice, data, broadband, and fixed services), Fintech (MoMo mobile money and digital financial services), and Digital Infrastructure (towers, fibre, and data centres through Bayobab). The portfolio includes consumer and enterprise products spanning 19 African markets: MoMo handles mobile payments, transfers, savings and lending; Bayobab manages tower assets, fibre networks and data centre operations; MTN Business serves enterprise customers; NaaS provides subscription-based network access; and MTN One TV offers video streaming. Sub-brands include MTN Pi (South African MVNO) and formerly Supersonic (broadband) and Ayoba (super app, discontinued March 2026). The group is reorganizing under its Ambition 2030 strategy, with structural separation of fintech operations into standalone entities in Ghana, Nigeria, and Uganda, and vertical integration of tower infrastructure through the proposed $6.2bn IHS Towers acquisition.

Differentiator

Problem solved

Functional benefit

Brands

• MoMo: Mobile financial services platform enabling payments, transfers, savings, and digital financial services across MTN markets
• Bayobab
• MTN One TV
• Ayoba

Products and services

• MoMo (Mobile Money) MTN's flagship mobile financial services platform enabling mobile payments, peer-to-peer transfers, airtime purchases, savings, micro-loans, merchant transactions, and international remittances across 19 African markets. Processed over $500 billion in transaction value in 2025 with 24.9% revenue growth.
• Bayobab (Digital Infrastructure) MTN Group's digital infrastructure unit covering towers, fibre cables, and data centres. Manages the group's mobility and fibre businesses and executes MTN's data centre strategy, supporting wholesale and enterprise connectivity solutions across Africa.
• MTN One TV A video streaming platform launched in June 2026 offering digital entertainment across South Africa and Zambia. Developed with Synamedia, supports multiple access models: free-to-view, advertising-funded, pay-as-you-watch, and subscription, with payment through airtime, Mobile Money, and locally supported payment methods.
• MTN Pi A mobile virtual network operator (MVNO) brand launched in South Africa in April 2026, offering mobile data plans and fixed internet packages as part of MTN's strategy to target new customer segments with a leaner brand proposition.
• MTN Business (Enterprise Services) MTN's B2B enterprise services division offering dedicated connectivity, cloud services, cybersecurity, IoT solutions, managed network services, and M2M communications to large corporations, SMEs, multinational companies, and government entities across 19 markets.
• Network as a Service (NaaS) MTN's next-generation services company providing digital infrastructure solutions enabling enterprises and operators to access network capabilities on a subscription or usage basis rather than owning physical infrastructure, aligning with MTN's Bayobab digital infrastructure strategy.
• Mobile Voice and Data Services Core telecommunications services including prepaid and postpaid mobile voice minutes, SMS, and data bundle subscriptions across MTN's 19 markets. Includes both pay-as-you-go airtime/data bundles (daily to 30-day validity) and postpaid monthly contract plans with handset financing.
• Mobile Handsets and Devices Sale of mobile handsets, smartphones, and related accessories through MTN-branded retail stores, dealer networks, and e-commerce channels across all operating markets.

Quantifiable outcome

• 312.7 million subscribers served across 19 markets, making MTN Africa's largest mobile operator
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability11 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and major.

• Ant InternationalcoreStrategic or Co-development PartnerStrategic technology partnership focused on developing a fintech super-app leveraging MTN's MoMo platform and Ant International's financial technology expertise.
• IHS TowerscoreStrategic or Co-development PartnerStrategic infrastructure partnership involving proposed acquisition of IHS Towers' Nigerian tower assets, strengthening MTN's network infrastructure ownership and operations.
• NvidiacoreTechnology or IntegrationTechnology partnership for AI infrastructure development, including AI-RAN (Artificial Intelligence Radio Access Network) technology to optimize network performance and efficiency.
• CiscomajorTechnology or IntegrationTechnology partnership for network infrastructure solutions, providing routing, switching, and networking equipment to support MTN's telecommunications operations.
• OraclemajorTechnology or IntegrationOracle provides analytics and cloud infrastructure solutions powering MTN's data center operations, business intelligence, and digital transformation initiatives.
• Standard Bank ConnectmajorChannel Partner/ Reseller/ DistributorMVNO (Mobile Virtual Network Operator) partnership enabling Standard Bank to offer mobile services to its banking customers under its own brand, leveraging MTN's network infrastructure.

Scale indicators5 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Airtel Africa: Airtel Africa is a direct competitor to MTN, operating mobile networks across 14 African markets with over 150 million subscribers. Both companies compete head-to-head in Nigeria, Uganda, Zambia, and other overlapping markets with similar voice, data, and mobile money (Airtel Money) offerings.
• Safaricom: Safaricom is East Africa's dominant mobile operator and the pioneer of M-Pesa mobile money. While primarily Kenya-focused, it competes with MTN in Uganda and represents the benchmark for African mobile money success that MTN's MoMo platform aspires to match.
• Millicom (Tigo): Millicom operates Tigo-branded mobile networks across Latin America and Africa, with African operations overlapping with MTN in markets like Ghana. Selorm Adadevoh, MTN's Group CCO, previously held senior roles at Millicom, indicating close operational parallels.
• Vodacom Group: Vodacom is the African subsidiary of Vodafone, operating mobile networks in South Africa, Tanzania, DRC, Mozambique, and Lesotho. As Africa's second-largest mobile operator by revenue, it directly competes with MTN in South Africa and several Southern African markets.
• Econet Wireless: Econet Wireless, founded by Strive Masiyiwa, operates mobile networks in Zimbabwe, Lesotho, Burundi, and DRC through various subsidiaries. It directly competes with MTN in Southern African markets with similar telecom and fintech offerings.

Broad incumbents

• Orange (formerly France Telecom): Orange operates mobile networks across multiple African markets (including Côte d'Ivoire, Cameroon, Senegal, Mali) with Orange Money as a direct competitor to MTN's MoMo. Stéphane Richard, former Orange CEO, now serves on MTN's board, reflecting the close competitive relationship.

Regional players

• Maroc Telecom: Maroc Telecom operates mobile networks across North and West Africa (Morocco, Mauritania, Burkina Faso, Mali, Gabon, Côte d'Ivoire). It competes with MTN in several francophone African markets with similar voice, data, and mobile money offerings.

Others

• Helios Towers: Helios Towers is a tower infrastructure operator across Africa and the Middle East, competing with IHS Towers (which MTN is acquiring). Post-acquisition, MTN/Bayobab will compete with Helios in wholesale tower services across multiple African markets.
• Liquid Intelligent Technologies: Liquid operates fiber networks and data centers across Africa, providing digital infrastructure that overlaps with MTN's Bayobab business. Both companies compete in enterprise connectivity, wholesale fiber, and data center services across African markets.

Emerging players

• M-Pesa Africa (Vodacom Safaricom JV): M-Pesa Africa is a joint venture between Vodacom and Safaricom to expand M-Pesa mobile money across African markets. It represents a direct competitive threat to MTN's MoMo platform ambitions, particularly in markets where MTN seeks to scale MoMo cross-border services.

Market position

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MTNza
• YouTubeyoutube.com/c/mtngroup
• Facebookfacebook.com/MTNLoaded
• LinkedInlinkedin.com/company/165065
• Instagraminstagram.com/mtn_group_

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries12 records

Funding overview

Funding rounds4 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MTN Group