MTN Group Business Model Canvas
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Business Model Canvas: Unlock growth levers in African and emerging markets
Unlock MTN Group's strategic blueprint with our Business Model Canvas—see how value propositions, key partners, and revenue streams combine to dominate African and emerging markets. This concise, actionable canvas highlights growth levers, cost drivers, and digital transformation priorities. Purchase the full, editable Canvas in Word & Excel to benchmark strategy, inform investments, and accelerate decision-making.
Partnerships
Network vendors and OEMs
Partnerships with Ericsson, Nokia and other OEMs enable MTN to rapidly deploy and upgrade radio, core and transmission networks, granting access to 4G/5G, fiber and cloud-native platforms; global 5G subscriptions topped 1 billion by end-2023 (GSMA). Strategic vendor financing also helps optimise MTN capex cycles by deferring upfront costs and aligning payments to revenue growth.
Towercos and infrastructure providers
Leasing towers, fiber and data centers lets MTN convert fixed capex to operating leases, accelerating rollout and lowering capital intensity across its 17 markets and ~280 million subscribers (2024). Co-location agreements extend rural and cross-border coverage more cheaply than duplicative builds. Passive infrastructure sharing has been shown industry-wide to boost uptime and cut operating costs through consolidated maintenance and power savings.
Fintech and banking alliances
Banking partners support float management, compliance and settlement for MTN Mobile Money, enabling secure custodian arrangements and regulatory reporting. Fintech alliances add wallets, lending, insurance and merchant services, expanding use cases. These partnerships drove scale—MTN reported over 70 million MoMo active customers by mid‑2024—boosting financial inclusion and payment monetization.
Digital content and platform partners
Digital OTT, content and cloud partners expand data consumption through bundles and zero‑rating, with GSMA 2024 noting zero‑rating can boost initial data adoption by ~20–30%; platform integrations (music, video, gaming, education) lift ARPU via paid tiers and in‑app purchases; coordinated co‑marketing raises engagement and reduces churn, improving lifetime value.
- Zero‑rating uptake: +20–30% (GSMA 2024)
- ARPU drivers: music, video, gaming, education
- Co‑marketing: higher engagement, lower churn
Regulators and government bodies
Regulators and government bodies coordinate on spectrum licensing, mobile money approvals and data governance, critical for MTN's continuity across markets where it serves over 290 million subscribers and c.70 million Mobile Money customers (2024). Public-private initiatives support rural coverage and digital ID adoption, reducing exclusion and boosting ARPU in under-served areas. Strong compliance lowers regulatory risk and protects operating licenses and revenues.
- Spectrum licensing: enables network capacity
- Mobile money approvals: scale payments (c.70m users)
- Data governance: ensures cross-border compliance
- Public-private: drives rural coverage and digital ID
Pan-African telco accelerates 4G/5G & fiber via vendor finance; serves ~290m subs
MTN partners with OEMs (Ericsson, Nokia) and financiers to accelerate 4G/5G/fiber rollouts and smooth capex through vendor financing; serves ~290m subscribers across 17 markets (2024). Tower/fiber leasing and co‑location cut build costs and speed coverage. Fintech and banking partners support ~70m MoMo users (mid‑2024), boosting ARPU; zero‑rating lifts initial data adoption ~20–30% (GSMA 2024).
| Metric | Value | Source |
|---|---|---|
| Subscribers | ~290m | MTN 2024 |
| Markets | 17 | MTN 2024 |
| MoMo active users | ~70m | MTN mid‑2024 |
| Zero‑rating uplift | 20–30% | GSMA 2024 |
What is included in the product
Detailed Word Document
A focused, pre-written Business Model Canvas for MTN Group mapping nine blocks—customer segments, value propositions, channels, customer relationships, revenue streams, key resources, activities, partnerships and cost structure—highlighting telecom, mobile money, enterprise services, distribution partnerships and regulatory risks to support investor presentations and strategic planning.
Customizable Excel Spreadsheet
High-level view of MTN Group’s business model with editable cells that pinpoint and address telecom pain points—coverage gaps, pricing complexity, and digital service adoption—so teams can rapidly design solutions and align resources.
Activities
Network rollout and optimization
Expanding 4G/5G sites, fiber backhaul and microwave links underpins MTN Group’s service quality by increasing capacity and reducing latency across markets. Continuous radio and transport optimization improves coverage, latency and spectral efficiency through targeted cell tuning and traffic offload. Robust energy management—hybrid solar, batteries and efficient gensets—maintains uptime in power-constrained markets.
Fintech platform operations
Operating wallets, agent networks and merchant acceptance drive MTN MoMo transaction volume—over 60 million active wallets reported in 2024, with value flows in the billions monthly. Robust risk, AML/KYC and settlement engines underpin trust and regulatory compliance across 18 African markets. Ongoing product innovation has expanded offerings into savings, micro‑lending and cross‑border remittances, supporting diversified revenue growth.
Customer acquisition and retention
Segmented offers, bundles and loyalty programs help grow and protect MTN’s base, supporting over 280 million subscribers and the group’s large MoMo footprint (over 70 million accounts in 2024). Digital onboarding and eKYC cut friction in markets across Africa, speeding activation and compliance. Proactive care powered by analytics reduces churn and boosts ARPU and lifetime value. These activities tie directly to MTN’s 2024 customer and digital revenue momentum.
Wholesale and enterprise solutions
MTN monetizes network assets through IP transit, international connectivity and roaming, leveraging its footprint across 18 countries and roughly 280 million subscribers in 2024; these wholesale services convert capacity into recurring revenue. Serving SMEs and corporates with connectivity, cloud and IoT diversifies revenue beyond consumer mobile. Strong SLAs and managed services deepen client relationships and support higher ARPU and retention.
- Wholesale IP transit and roaming: monetize backbone and international routes
- Enterprise offerings: connectivity, cloud, IoT drive diversification into B2B
- SLAs & managed services: increase stickiness, ARPU and long-term contracts
Data analytics and platform engineering
- AI-driven insights: optimize pricing, network planning, marketing
- Platform engineering: scale APIs, billing, partner integrations
- Security ops: safeguard data and service integrity
4G/5G, fiber and energy hybrids power scale across 18 markets, 280M users
Expanding 4G/5G sites, fiber backhaul and energy hybrids sustains service quality and uptime across 18 markets. Operating MoMo and agent networks drives scale—about 280 million subscribers, ~70 million MoMo accounts and 60 million active wallets in 2024. Wholesale IP transit, enterprise cloud/IoT and SLAs monetize backbone capacity. AI-led analytics and platform engineering optimize pricing, churn and partner integrations.
| Metric | 2024 |
|---|---|
| Subscribers | ~280 million |
| MoMo accounts | ~70 million |
| Active wallets | ~60 million |
| Markets | 18 |
Preview Before You Purchase
Business Model Canvas
The MTN Group Business Model Canvas shown here is the actual deliverable, not a mockup; it’s a direct snapshot of the file you’ll receive after purchase. On completion you’ll download this same fully formatted, editable document (Word and Excel) with every section included and ready for presentation or modification.
Resources
Spectrum and licenses
Exclusive spectrum access underpins MTN Group’s mobile services, enabling coverage and differentiated offerings across 18 countries; national licenses provide regulatory legitimacy and market presence. Efficient spectrum utilization is central to network performance and cost efficiency, supporting MTN’s service delivery to over 200 million subscribers. Annual network investment exceeds $2 billion, reflecting spectrum-driven capex priorities.
Network and IT infrastructure
MTN Group leverages extensive radio sites, fiber backbones, data centers and cloud-native cores to deliver connectivity across its 15 markets, supporting scale after reporting revenue of ZAR 233.6 billion in 2023. Robust BSS/OSS stacks and digital channels enable rapid customer growth and operational efficiency. Redundancy, on-site energy assets and grid backups underpin network resilience and uptime targets.
Fintech rails and agent network
Fintech rails—wallet platforms, open APIs and merchant tools—power MTN’s payments and financial services, enabling interoperable transactions and merchant acceptance; MTN Mobile Money processed over $75 billion in 2024 value transacted across its platforms. A large agent network with 1.2 million agents provides cash-in/cash-out liquidity and last-mile reach. Robust trust frameworks and real-time risk engines (fraud detection, KYC) keep uptime above 99.5% and sustain service reliability.
Brand and customer base
MTN’s recognised brand reduces customer acquisition costs and supports premium pricing; its c.280 million subscribers across 17 markets (2024) generate strong network effects and scale economies. The large base enables cross-sell across voice, data, digital services and fintech, including Mobile Money, boosting ARPU and non-voice revenue share.
People and partnerships
Skilled engineering, product, risk and compliance teams drive MTN Group's execution across markets, supporting a footprint of ~297 million subscribers (2024). Local market know-how enables faster regulatory navigation and license compliance in 18 countries. Strategic partners—technology vendors, fintechs and tower companies—extend capabilities and speed to market, accelerating 4G/5G and mobile money rollouts.
- People: cross-functional teams
- Scale: ~297M subscribers (2024)
- Partners: tech, fintech, towers
280m subs, ZAR 233.6bn revenue, >$75bn mobile money and >$2bn capex driving digital scale
Exclusive spectrum, 280m subscribers (2024) and national licenses enable MTN’s coverage and differentiated services; annual network capex >$2bn supports performance. Fiber, data centers and cloud cores drive scale after ZAR 233.6bn revenue (2023) and 99.5% uptime. Mobile Money processed >$75bn (2024) with 1.2m agents; skilled teams and partners accelerate 4G/5G and fintech rollouts.
| Metric | Value |
|---|---|
| Subscribers (2024) | 280m |
| Revenue (2023) | ZAR 233.6bn |
| MM value (2024) | $75bn+ |
| Annual network capex | >$2bn |
| Agents | 1.2m |
Value Propositions
Reliable, wide-reaching connectivity
MTN's high-availability networks deliver consistent voice and data experiences, with availability above 99% supporting everyday reliance. Broad coverage across 19 markets connects urban and rural customers, serving about 290 million subscribers in 2024. Quality of service builds trust, strengthening retention and ARPU growth.
Affordable data and voice bundles
Tiered, usage-based and time-based data and voice bundles let MTN address diverse budgets across its c.296 million subscribers (June 2024), improving affordability and uptake. Bundling voice and data increases perceived value and supports higher ARPU through upsells and package migration. Targeted promotions and short-term discounts in 2024 drove rapid adoption, lowering barriers to entry for lower-income segments.
Inclusive digital financial services
MTN’s inclusive digital financial services deploy MoMo to enable payments, transfers and savings for the un/underbanked, expanding financial access across its c.280 million subscribers in 18 markets (2024). Merchant acceptance via extensive agent and POS networks simplifies everyday commerce and drives transaction volume. Embedded lending and insurance products increase utility and retention by meeting working-capital and risk-management needs.
Enterprise-grade solutions
Enterprise-grade solutions combine secure connectivity, cloud and managed services to sustain business continuity and resilience, with carrier-grade SLAs typically offering 99.99% availability to meet corporate risk profiles. IoT and edge deployments cut operational costs and latency, enabling real-time automation and asset tracking. Dedicated support and SLAs align with compliance and uptime demands for large enterprises.
- secure-connectivity
- cloud-managed-services
- 99.99%-SLA
- IoT-edge-efficiency
Seamless digital experiences
Seamless digital experiences combine intuitive apps, self-care portals and open APIs to simplify interactions for MTN’s customer base of over 250 million subscribers and more than 50 million mobile money users (2024); packaged content bundles boost entertainment and learning engagement, while omni-channel support (app, web, USSD, contact centres) ensures convenience and faster issue resolution.
- Intuitive apps: faster transactions, lower call-centre load
- Content bundles: drives ARPU via entertainment and education
- Omni-channel support: improved NPS and reduced time-to-resolution
Pan-African operator: 99%+ uptime, c.296m subs, c.50m MoMo
MTN delivers 99%+ network availability across 19 markets, serving c.296m subscribers (Jun 2024) for reliable voice/data. MoMo reaches c.50m mobile-money users, enabling payments, lending and insurance. Enterprise cloud/IoT with 99.99% SLAs drives digital transformation and higher ARPU.
| Metric | 2024 |
|---|---|
| Subscribers | c.296m (Jun 2024) |
| MoMo users | c.50m |
| Network availability | 99%+ |
| Enterprise SLA | 99.99% |
Customer Relationships
Self-service digital care
Apps and web portals let MTN customers manage plans, pay bills and troubleshoot; in 2024 MTN reported c.277 million subscribers with MyMTN/MyMTN Business pushing digital engagement (app downloads and active users in the tens of millions). Chatbots and knowledge bases provide instant support, handling high volumes and reducing average handling time. Reduced friction raises satisfaction and cuts service costs, boosting digital service uptake and lowering OPEX.
Personalized engagement
Data-driven offers match usage patterns and lifecycle stages using MTN Group scale, serving over 280 million subscribers across 18 markets (2024), enabling tailored bundles by segment. Recommendations and targeted upsells increase relevance and conversion by aligning services to customer context. Timely, behavior-triggered messaging reduces churn risk by addressing at-risk customers before disengagement.
Loyalty and rewards programs
Point-based and tiered rewards drive stickiness by encouraging repeat spend and upgrades; MTN reported c.289 million active subscribers in 2024, making tier migration economically significant. Partner discounts (retail, entertainment) add perceived value and expand ARPU opportunities. Gamified experiences—contests, streaks and badges—lift participation rates and conversion, reflecting industry engagement uplifts reported in 2024.
Dedicated enterprise account management
Dedicated enterprise account management teams deliver tailored solutions and governance for MTN Business, supported by proactive monitoring and SLAs that underpin trust; MTN reported over 280 million subscribers across 17 markets in 2024, reinforcing scale for enterprise service delivery. Quarterly reviews align outcomes, surface expansion opportunities and drive retention and revenue uplift.
- Account teams: tailored solutions, governance
- Proactive monitoring + SLAs: trust, uptime
- Quarterly reviews: outcomes, expansion
Agent-assisted fintech support
Local MTN agents facilitate onboarding, KYC and cash-in/cash-out transactions, and as of 2024 MTN Mobile Money served about 70 million active customers supported by roughly 320,000 agent outlets; human-assisted touchpoints boost trust and drive uptake of digital financial services, while structured training ensures consistent service quality and regulatory compliance.
- Agent-led onboarding
- Human trust + uptake
- Training → compliance
Operator uses apps, chatbots & agents to serve c.289m subscribers
MTN leverages apps, chatbots and agents to serve c.289m subscribers (2024), driving digital uptake and lower OPEX; MyMTN/MyMTN Business reach tens of millions of active users. Data-driven offers and targeted messaging reduce churn and boost ARPU; Mobile Money supports ~70m active customers via ~320,000 agents. Enterprise account teams and SLAs secure large B2B contracts and retention.
| Metric | 2024 |
|---|---|
| Subscribers | ~289m |
| Markets | 18 |
| MyMTN active users | tens of millions |
| Mobile Money active | ~70m |
| Agent outlets | ~320,000 |
Channels
Retail stores and kiosks
Retail stores and kiosks provide physical touchpoints for SIM sales, device trade-ins and in-person service support, reinforcing customer onboarding and retention across MTN’s footprint of 19 markets and thousands of retail outlets.
High-visibility locations drive brand presence in urban and high-traffic nodes, supporting uptake of new propositions and regulatory KYC needs.
Assisted sales teams improve conversion and upsell, enhancing lifetime value and complementing digital channels.
Digital apps and portals
MTN Group digital apps deliver self-care, airtime top-ups and fintech via MoMo, supporting more than 69 million mobile money accounts in 2024 and driving fee income growth. Web portals enable account management and enterprise tools for thousands of B2B clients, integrating APIs and billing. Push and in-app notifications lift engagement and cross-sell, contributing to digital revenue growth that accounted for over 20% of group service revenue in 2024.
USSD and SMS
Lightweight USSD and SMS channels ensure MTN reaches basic-phone users across Africa, serving over 250 million customers with low-bandwidth access; USSD menus enable real-time balance checks, bundle purchases and payments with instant session flows, while SMS handles scalable alerts, OTPs and promotional blasts reaching millions daily; in 2024 MTN reported mobile money and digital services as key growth levers, with digital channels driving a rising share of transactions and engagement.
Agent and merchant networks
Agents facilitate cash-in/out and wallet onboarding for MTN MoMo, while merchants accept payments and drive everyday usage across MTN’s 17-country footprint; physical agent and merchant networks extend reach into underserved urban and rural areas. In 2024 MTN reported rapid MoMo transaction growth, underpinning financial inclusion and merchant acceptance expansion.
- Agents: on-the-ground onboarding and liquidity
- Merchants: everyday payment drivers
- Physical network: extends reach to underserved areas
Partner and wholesale channels
Partner and wholesale channels drive incremental revenue via roaming, MVNOs and interconnect, expanding ARPU across MTN’s 17 markets; MVNOs and interconnect agreements unlock wholesale margins and scale. Content and fintech partners bundle digital services with MTN MoMo (over 62 million users in 2024), creating bundled revenue streams. Enterprise resellers extend reach into SMEs and corporates, increasing market coverage and distribution.
- Markets: 17
- MoMo users: 62M (2024)
- Key levers: roaming, MVNOs, interconnect, content, fintech, resellers
Retail, digital and agents fuel 69M mobile money accounts in 2024
Retail stores, assisted sales and high-visibility kiosks drive SIM/device sales, onboarding and KYC across MTN’s footprint, supporting retention and upsell.
Digital apps, USSD and SMS enable self-care, top-ups and payments; digital channels generated over 20% of service revenue in 2024.
Agent and merchant networks scale MoMo cash-in/out and acceptance; MTN reported 69 million mobile money accounts and ~250 million customers in 2024.
| Metric | 2024 |
|---|---|
| MoMo accounts | 69M |
| Total customers | ~250M |
| Digital revenue share | >20% |
Customer Segments
Mass-market consumers
Prepaid users seeking affordable voice and data drive volume for MTN Group, which reported 281.8 million subscribers at June 2024, with prepaid customers comprising roughly 90% of the base. Feature phones demand low‑cost voice/SMS bundles while smartphone users push data, apps and digital services. High price sensitivity forces flexible, segmented offers and pay‑as‑you‑go options; blended ARPU was about USD 3.8 in H1 2024.
Youth and digital natives
Youth and digital natives, within MTN's customer base of around 290 million subscribers across 17 markets, drive high data usage shaping tiered and content-rich bundles. Social and gaming partnerships, including zero-rating and co-marketing deals, strongly resonate with this segment. Digital-first care — apps, chatbots and self-service — reduces friction and boosts engagement and ARPU among younger users.
SMEs and corporates
SMEs and corporates—which represent roughly 90% of African businesses—require reliable connectivity, cloud platforms and robust security to scale. Managed services reduce operational burden and let firms focus on core activities, while SLAs and tailored solutions deliver measurable uptime and compliance guarantees. MTN can leverage scale to bundle connectivity, cloud and security into enterprise-grade offerings.
Merchants and agents
Acceptance and liquidity services drive daily transactions for merchants and agents, with MTN Mobile Money reporting c.73 million active users and a merchant/agent network exceeding 2.5 million in 2024, facilitating high-frequency retail flows and float management.
Integrated reconciliation and analytics tools reduce settlement times and shrink disputes, while structured training programs and commission incentives sustain agent activity and retention.
- active-customers: 73 million
- agent-network: >2.5 million
- focus: liquidity, reconciliation, incentives
Roaming and wholesale customers
Roaming and wholesale customers—international carriers and travelers—depend on MTN for interconnect and roaming across MTN’s 16 markets and over 300 million subscribers (2024). Competitive rates and broad coverage are decisive for partner selection, while SLA-driven quality metrics (drop rate, latency, throughput) shape pricing and long-term agreements. MTN’s wholesale strategy ties revenue to contracted QoS and regional footprint.
- over 300 million subscribers (2024)
- 16 operating markets (2024)
- competitive tariffs + coverage drive partner choice
- QoS metrics determine contract length and pricing
Prepaid-led 281.8m subs; ARPU USD 3.8; 73m Mobile Money
Prepaid users drive volume: 281.8m subscribers (Jun 2024), ~90% prepaid, blended ARPU USD 3.8 (H1 2024). Youth/digital natives across 17 markets push data and digital services; zero‑rating and apps boost engagement. Mobile Money: 73m active users, >2.5m agents; SMEs demand managed connectivity and security. Roaming/wholesale leverage 16 markets and >300m network reach to set tariffs and QoS.
| Segment | Metric | 2024 |
|---|---|---|
| Subscribers | Total | 281.8m (Jun) |
| ARPU | Blended | USD 3.8 (H1) |
| Mobile Money | Active/Agents | 73m / >2.5m |
| Markets | Operating | 16–17 |
Cost Structure
Network capex and spectrum fees
Site builds, radio and core equipment and expanding fiber drove MTN Group capital expenditure to about ZAR 44.7 billion in 2024, reflecting heavy network investment across Africa. Spectrum acquisition and renewals were material, costing roughly ZAR 3.1 billion in 2024 in select markets. Phased deployment and demand-led rollouts align spend to revenue growth and ARPU expansion.
Operating and energy costs
Tower leases, maintenance and field operations are major opex drivers for MTN Group, which served about 280 million subscribers in 2024; in unreliable-grid regions power and fuel can represent up to 30% of site opex, and MTN's 2024 energy-optimization programs (solar deployments, hybrid systems, efficiency upgrades) reduced diesel and grid consumption.
Sales, marketing, and distribution
Retail outlets, commissions and targeted promotions remain core growth drivers for MTN, supporting sales across 18 markets and serving roughly 290 million subscribers in 2024 while boosting ARPU uplift in higher-value segments.
Digital acquisition (self‑care, app onboarding and USSD automation) is reducing unit customer acquisition costs over time, enabling scalable growth and lower churn for digital-first cohorts.
Continued brand investment preserves market share in competitive markets, with marketing and sponsorships focused on retention and premium service adoption.
Regulatory and compliance
License fees, taxes and levies materially compress MTN Group margins; South Africa's corporate tax rate was 27% in 2024, and spectrum/license costs in key markets remain a significant capital outflow. AML/KYC, data privacy and audit processes increase operating overhead and compliance headcount. Strong governance frameworks reduce regulatory, financial and reputational risk.
- License fees & levies: high cash drain
- Compliance overhead: AML/KYC, data privacy, audits
- Governance: lowers fines and operational risk
IT, platforms, and personnel
Software, cloud, and security demand continuous spend to support MTN Group’s digital services; group capital expenditure was approximately ZAR 26.7 billion in FY2024, with a growing share directed at platforms and cybersecurity.
Platform development and integrations underpin new services and partnerships, while talent acquisition and training are essential to execute and scale digital launches, keeping churn and time-to-market low.
- IT opex focus: sustained security and cloud licenses
- Platform spend: supports API integration and new services
- People costs: hiring, upskilling, retention programs
Network-first capex: ZAR 44.7bn net, ZAR 26.7bn platforms; power and taxes squeeze margins
MTN Group capex focused on network expansion (ZAR 44.7bn in 2024) and platforms (ZAR 26.7bn), with spectrum spend ~ZAR 3.1bn. Opex drivers include tower leases, power (up to 30% site opex in weak-grid areas) and retail/comms supporting ~280m subscribers. Digital channels and energy programs reduced unit costs and diesel consumption, while taxes and compliance compress margins.
| Item | 2024 |
|---|---|
| Network capex | ZAR 44.7bn |
| Platform capex | ZAR 26.7bn |
| Spectrum | ZAR 3.1bn |
| Subscribers | ~280m |
Revenue Streams
Voice and messaging services
Prepaid and postpaid voice, SMS and interconnect remain core cash generators for MTN, serving about 298 million subscribers (June 2024) and supporting steady service revenue; bundled voice+data packs stabilize ARPU by reducing churn and increasing monthly spend. Bundles lifted ARPU resilience in 2024 while international calling and roaming contributed incremental yield, particularly from West and North Africa corridors.
Data and digital bundles
Mobile data plans, night packs and app-specific bundles are core growth levers for MTN, driving higher ARPU through targeted pricing and usage spikes; in 2024 MTN reported c.299 million subscribers with data remaining the largest service revenue contributor.
Fintech transactions and float
Fintech transactions and float generate diversified income for MTN via wallet fees, P2P transfer charges, merchant MDR (commonly 0.5–3%) and bill-payment fees, supported by tens of millions of MoMo users as of 2024. Value-added services — lending and insurance bundled into MoMo — boost yield through interest and premiums. Where regulation allows, interest on operational float adds incremental revenue tied to prevailing local policy rates in 2024.
Enterprise and managed services
Enterprise and managed services—connectivity, SD-WAN, cloud, security and IoT contracts—drive recurring revenue for MTN, with enterprise revenue growing 8% in 2024 and higher average revenue per user from managed services. SLAs enable premium pricing and lower churn, while professional services generate upfront fees and boost margin in the contract lifecycle. These offerings deepen enterprise ARPU and long-term cash flow.
- 2024 growth: enterprise revenue +8%
- Recurring vs upfront: recurring (connectivity, SD‑WAN, cloud, security, IoT), upfront (professional services)
- SLA impact: supports premium pricing and retention
Wholesale and roaming
Wholesale and roaming monetize MTN Group’s network scale through international transit, IP services and interconnect fees, turning traffic flows into high-margin revenue lines; MTN reported group revenue of about ZAR 234 billion in FY2024, with wholesale and interconnect contributing materially to service revenue diversification. Roaming yields both inbound and outbound fees while capacity sales improve asset utilization and lower per-unit costs.
- international_transit: monetizes cross-border traffic
- ip_services: scales wholesale IP/MPLS offerings
- interconnect_fees: network-to-network settlements
- roaming_inbound_outbound: direct revenue from visiting users
- capacity_sales: fills excess fiber/submarine capacity
Data and fintech drive telco: ~299m subs, ZAR 234bn revenue
Prepaid/postpaid voice, SMS and bundles serve ~299m subscribers (Jun 2024) and kept ARPU stable; data plans were the primary growth driver in 2024. Fintech (MoMo: tens of millions users) adds fees, float income and lending; merchant MDR 0.5–3%. Enterprise revenue +8% in 2024; group revenue ZAR 234bn FY2024, wholesale/roaming diversify margins.
| Metric | 2024 |
|---|---|
| Subscribers | ~299m (Jun) |
| Group revenue | ZAR 234bn |
| Enterprise growth | +8% |
| MoMo users | tens of millions |