MTN, led by Zimbabwean executive Ralph Mupita, hits 300 million subscribers

MTN Group, Africa’s largest telecom operator, under the leadership of Zimbabwean executive Ralph Mupita, has become the first telecom operator on the continent to surpass 300 million subscribers, marking a major achievement under its chief executive, Ralph Mupita.

The milestone was announced during the company’s annual Ambassadors Appreciation Dinner last Wednesday, where executives confirmed that MTN had reached a key goal in its Ambition 2025 strategy — serving 300 million customers across its markets.

Subscriber growth has accelerated sharply in the past 18 months. In the year ending December 2024, MTN gained 6.2 million users to close at 291 million, excluding operations it sold in Afghanistan, Guinea-Bissau and Guinea-Conakry. By June 2025, the group had gained another 6.7 million users, bringing the total to nearly 298 million before crossing the 300 million mark in the third quarter.

Nigeria and Iran lead subscriber numbers

Nigeria remains its biggest market at 84.7 million subscribers as of June.  Iran, where MTN holds a 49 percent stake in Irancell, follows with 56 million customers. Although the Iranian business continues to perform well, sanctions have made it difficult for MTN to repatriate funds from the country.

South Africa, MTN’s home market, remains a key contributor with 39.8 million users. The South and East Africa region—including Uganda, Rwanda, Zambia, South Sudan, Botswana and Eswatini—added 43.5 million subscribers, led by Uganda with 22.8 million.

In Western and Central Africa, the company serves about 70 million subscribers across Ghana, Cameroon, Ivory Coast, Benin, Congo Brazzaville and Liberia. Ghana leads the region with 30 million customers.

Focus on fintech and home connectivity

Mupita said MTN is turning its focus toward three growth areas beyond 2025 — fintech, digital infrastructure and the connected home. The group’s mobile money platform, MoMo, remains a strong driver of customer loyalty and financial inclusion in markets where banking access is limited.

In South Africa, MTN recently launched “MTN Sky Premium,” a bundled home product offering data, voice minutes, and dedicated customer support — a move aligned with its connected home strategy.

The group’s digital infrastructure arm plans to extend fibre deployments across several countries, though details remain limited. Mupita confirmed MTN has no immediate plans to build a standalone fibre network but will instead pursue partnerships or acquisitions “at the right price and time.”

Revenue gains and market confidence

MTN operates in 16 countries across Africa and the Middle East. In the first half of 2025, the group reported a 23 percent rise in revenue to $6 billion, fueled by a 37.5 percent jump in Nigeria and a doubling of revenue in Ghana. Mupita’s strategic focus has reinforced MTN’s position as one of Africa’s most valuable brands.

Mupita with a personal stake in MTN valued at nearly $11 million, has emerged as one of Southern Africa’s most influential corporate leaders—steering the group toward sustained growth in an increasingly competitive telecom market. (Billionaires Africa)