MTN Group – one of Africa’s largest telecommunications providers – increased their overall number of subscribers to around *** million as of the first quarter of 2024. Nigeria, South Africa, Uganda, Ghana, and Ivory Coast are among MTN's major markets, accounting for more than ** million subscribers each. MTN Group revenue: voice still on top Outgoing voice calls were MTN Group’s largest revenue stream in 2022, generating approximately **** billion U.S. dollars for the company. Data was the close second most lucrative revenue stream, bringing in approximately **** billion U.S. dollars. The Nigerian market accounted for more revenue than any other country, with **** billion U.S. dollars coming from the region. Mobile Money: increasing financial inclusion to Africa While certainly not MTN Group’s largest revenue stream, the one billion U.S. dollars the company generated from fintech is indicative of the role mobile money and MTN's MoMo platform plays in the profit centers of modern telecommunications companies in Africa. Generally provided by a telecommunications company, mobile money enables those without a bank account to participate in the economy, allowing transactions to be made using almost any mobile phone.MTN Group’s offering – MoMo – grew by over six million active subscribers just in the fourth quarter of 2022. The total value of all mobile money transactions in Sub-Saharan Africa doubled from ***** billion U.S. dollars in 2019 to over *** billion by 2022, more than any other region in the world, showing the importance of mobile money to both customers and providers in the region.

The MTN Group is a South African multinational telecommunications company that operates in more than 20 countries and is the leading mobile operator in Africa. In 2015, the group had about 232.5 million subscribers. As of 2023, that number had increased to 294.8 million.

As of 2023, Ghana's Scancom PLC (MTN) had over 15.2 million individuals who were actively subscribed to their mobile money (MoMo) service. In the previous year, the subscriber base stood at around 12.7 million. MTN Ghana is the largest company in Ghana by market capitalization.

In 2023, the number of MTN mobile network subscribers in Nigeria experienced an increase, at nearly 80 million. In the previous year, the South African mobile telecommunications operator counted around 76 million users, continuing the general upward trend observed since 2019. MTN Nigeria is the largest mobile telecoms operator in Nigeria.

In 2023, the number of MTN data subscribers in Nigeria experienced an increase of over six million users. In the previous year, the mobile telecommunication operator counted roughly 40 million internet subscribers. MTN Nigeria is the largest mobile telecom operator in Nigeria.

As of 2023, Ghana's Scancom PLC (MTN) had around 4.5 million individuals actively subscribed to their voice service. In the previous year, the subscriber base was lower, at approximately 3.6 million. MTN Ghana is the largest company in Ghana by market capitalization.

As of 2023, Ghana's Scancom PLC (MTN) had around 15.4 million individuals who were actively subscribed to their data services. In the previous year, the subscriber base stood at around 13.5 million. MTN Ghana is the largest company in Ghana by market capitalization.

As of 2022, MTN Nigeria had nearly 15 million individuals subscribed to their mobile money (MoMo) service. In the previous year, the MoMo subscriber base stood at around 9.4 million. In 2022, the company created the MoMo Payment Service Bank Limited (MoMo PSB), intended to facilitate high-volume low-value transactions in remittance services, micro-savings and withdrawal services which would further expand financial inclusion in the country.

As of 2023, the number of MTN fintech subscribers in Nigeria totaled 14.5 million, decreasing from the previous year when the count reached nearly 15 million. However, an overall increase is visible within the period examined.

As of 2023, Ghana's Scancom PLC (MTN) had around 26.8 million individuals who were actively subscribed to their voice service. In the previous year, the subscriber base stood at a peak of 28.6 million. MTN Ghana is the largest company in Ghana by market capitalization.

In 2023, the number of MTN digital subscribers in Nigeria reached 16.5 million, representing an increase of over 60 percent from the previous year. The number of subscriptions steadily increased within the period examined.

As of 2023, the number of MTN home broadband subscribers in Nigeria experienced an increase of around 800,000 users compared to the previous year. In 2021, the mobile telecommunications operator counted roughly 700,000 home broadband subscriptions. MTN Nigeria is the largest mobile telecom operator in Nigeria.

Today about 20 to 22 million people in South Africa use a smartphone, which accounts for about one third of the country’s population. The overall number of mobile connections is much higher though with more than 90 million, as feature phones are still popular and widely used in the country and on the continent overall. The number of smartphone users is forecast to grow by more than five million though till 2023.

Samsung most popular brand in South Africa

Samsung is currently the leading mobile phone vendor in South Africa. More than 40 percent of devices in use are currently made by the Korean tech giant. The Chinese telecommunications equipment and consumer electronics manufacturer, Huawei, and US-based Apple also have a strong presence in the South African market with a share of more than 15 percent each.

Leading mobile operator: Vodacom

There are three mobile network operators in South Africa which account for about 90 percent of the overall market: Vodacom, MTN, and Cell C. Vodacom, of which British multinational telecommunications company Vodafone holds a majority stake, has the largest share of subscribers with around 40 percent. MTN and Cell C are responsible for around 30 and 17 percent of the market respectively.

As of 2023 MTN Nigeria had 5.3 million individuals subscribed to its mobile money (MoMo) PSB wallet service. In the previous year, the count stood at two million. In 2022, the company created the MoMo Payment Service Bank Limited (MoMo PSB), intended to facilitate high-volume low-value transactions in remittance services, micro-savings and withdrawal services which would further expand financial inclusion in the country.

MTN Group's mobile money service – MoMo – more than doubled the number of active users from 2018 to 2024. As of the second quarter of 2024, there were around 66 million active users on MoMo to send and receive mobile money payments. This represents a significant increase of around half a million active users compared to the previous quarter. The number of active users on MoMo reached a record value of over 72 million active users in the fourth quarter of 2023.

In 2023, MTN Ghana (Scancom PLC) recorded revenue from mobile money (MoMo) amounting to over 2.8 billion Ghanaian cedis (GHS), corresponding to around 181 million U.S. dollars. Since 2019, the company’s income from this mobile service has steadily and considerably increased, registering a growth of more than 200 percent. MTN Ghana is the largest company in Ghana by market capitalization. Data and voice revenue exceed that of mobile money Besides mobile service revenue, MTN Ghana obtains income from data and voice. Each of these last two services accounts for a greater percentage of the company's earnings compared to mobile money. In 2023, data revenue added up to over 5.8 billion GHS (374 million U.S. dollars), while revenue from voice reached around 3.6 billion GHS (232 million U.S. dollars). Overall, in the said year, MTN Ghana registered more than 13.3 billion GHS in total revenue, an annual increase attributed to working commercial strategies as well as network and coverage expansion.
Increasing subscriptions MTN Ghana has retained its position as the operator with the largest share in mobile subscriptions in Ghana since 2015. The telecommunications provider ranks fourth in the MTN Group subscriber base, after Nigeria, Iran, and South Africa. Specifically, as of 2023, voice services had the highest number of subscribers, followed by data, mobile money, and digital service subscriptions.

the Report Covers Telecommunication Companies in Nigeria and the Market is Segmented by Services (Wired, Wireless), Data and Messaging Services, OTT, and Pay TV Services. the Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

In December 2021, the number of mobile-cellular machine-to-machine (M2M) subscriptions in Nigeria reached nearly 1.77 million subscribers. MTN was the leading provider of this service, with 946,805 subscribers. This network operator was followed by EMTS and Airtel.

As of the fourth quarter of 2023, MTN Ghana had the highest number of mobile data subscribers, compared to other network operators in the country. This reached close to 19 million subscriptions, followed by Vodafone Ghana with nearly 3.1 million mobile data subscribers.

As of 2022, the number of individuals who registered a mobile sim with network operators in Nigeria amounted to over 301 million. MTN counted the largest subscription base, with more than 123 million subscribers, followed by GLO and Airtel.