“As we reflect on this significant milestone, we express our sincere gratitude to all our stakeholders, past and present, across multiple jurisdictions, for their support,” said
MTN Group President and Chief Executive Officer Ralph Mupita. “We couldn’t have achieved this remarkable success without you.”
Since its inception in 1994, MTN has evolved from a small South African start-up with 20 employees into a global telecommunications leader, employing over 17,500 individuals representing more than 70 nationalities across 18 diverse markets.
In South Africa, MTN’s impact has been profound. The company’s network now
reaches 97% of the population, providing a foundation for digital inclusion and
economic empowerment. By investing in cutting-edge technologies like 4G and 5G, MTN has ensured that South Africa remains at the forefront of technological
advancement. A recent study by KPMG showed that MTN South Africa’s contribution to the country’s GDP is substantial, making it a key player in the national economy.
The evolution of handsets and the proliferation of apps have democratised access to information and essential services, from financial solutions to healthcare, education, and entertainment.
This has been a game-changer for individuals and businesses
alike.
MTN’s influence extends far beyond South Africa. In 2023, the MTN Group recorded over R220 billion (more than US$11 billion) in revenue, a testament to its market leadership and the growing demand for digital services across Africa. This success has driven the company’s market capitalisation to over R150 billion, solidifying its position as one of the continent’s most valuable companies.
Across Africa, MTN connects millions, empowering them with essential
communication tools and access to vital services. More than 149 million people rely on MTN’s network for data access, fuelling a digital transformation that is reshaping industries and societies. Additionally, MTN Mobile Money (MoMo) provides over 65 million individuals with access to financial services, driving financial inclusion and economic empowerment in underserved communities.
MTN’s commitment to socio-economic development is evident everywhere. In 2023,the Group’s total tax contribution to governments across markets was nearly
R62 billion (over US$3.3 billion), supporting vital public services and infrastructure development.
MTN’s operations also generated some R159 billion in economic value,
creating jobs, stimulating economic activity, and fostering digital innovation.
From the outset, the Group has been driven to make a social impact. Launched in 2001, the first MTN Foundation had an annual budget of R22 million.
In 2023, MTN spent ten times that – R220 million – in corporate social responsibility across markets, with a special focus on developing digital skills to enable the digital economy.
Furthermore, both MTN Group and MTN South Africa have achieved Level 1 BroadBased Black Economic Empowerment status, underscoring their commitment to diversity, inclusion, and social transformation.
MTN’s dedication to giving back is embodied in the annual “21 Days of Y’ello Care”
initiative, which has been extended to 30 days this year to commemorate the 30th
anniversary. Kicking off on June 01, 2024 under the theme “Learn Today, Lead
Tomorrow: Education for Rural and Remote Communities,” this initiative mobilizes MTN employees across the continent to dedicate their time and resources to enhance educational opportunities.
This year, the focus is on bridging the educational divide in rural and remote areas, providing digital learning tools, and supporting educational infrastructure to empower the next generation of leaders within these
communities.
MTN’s 30-year journey is a testament to the transformative power of technology and the unwavering spirit of innovation. Looking to the future, MTN remains dedicated to bridging the digital divide, empowering individuals and communities, and driving Africa’s sustainable and inclusive progress through cutting-edge digital solutions.
ENDS
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator with a
clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of a modern connected life.
The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN’. Our strategy is Ambition 2025: Leading digital solutions for Africa’s progress.
