MTN CEO Ralph Mupita Charts Resilient, Platform-Driven Growth Amid Challenges

MTN Group faced a trying 2024, as inflation and currency volatility weighed heavily on its flagship markets like Nigeria, while the conflict in Sudan necessitated a significant impairment of 11.7 billion rand (~US$647 million) tied to local assets. Still, Group President & CEO Ralph Mupita noted a stabilization of inflation and service revenues—particularly in Nigeria—providing cautious optimism and a platform for recovery.

Mupita reaffirmed MTN's ambition to close Africa's connectivity gap. Despite currently having only 30% of its subscriber base actively using data, he forecasts a rise to 40% over the next five years. He highlighted that an estimated 250 million more Africans will connect to digital networks during this period, underscoring the scale of opportunity.

A key driver of this vision is MTN's "Ambition 2025" strategy, which restructures the business into three distinct platforms:

**1. Connectivity** – Anchoring core telecom services and wholesale offerings, including TV, education, and healthcare.

**2. Fintech** – Expanding MTN's role through its fintech ecosystem, recently attracting a strategic minority investment from Mastercard, with plans to divest certain country operations to enable the deal.

**3. Digital Infrastructure** – Leveraging existing assets such as subsea cables, fiber, and data centers, with an eye on AI-driven services and third-party collaborations.

This structure is designed to foster resilience, unlock external capital, and diversify revenue—while supporting cutting-edge service delivery.

Mupita believes that no single operator can meet these ambitions alone: partnerships are essential. His roadmap aims to set the stage not just for short-term recovery but long-term, inclusive digital growth across Africa.