Africa’s biggest telecoms operator MTN Group said on Monday it has rebounded to an annual profit and would pay shareholders a dividend that exceeded guidance and planned to buy back shares.

Reuters reports that the strong performance in the year ended December 31 followed a difficult 2024 for the group, when its largest business, MTN Nigeria ⁠was hit by sharp currency devaluations, surging inflation and high interest rates.

For the full year 2025, strong performances in MTN Nigeria and MTN Ghana , as well as 3.6 billion rand in cost savings, delivered a profit before tax of 47.4 billion rand ($2.81 billion).

That compared to a restated loss before tax of 4.1 billion rand in 2024.

At the market opening in Johannesburg, South Africa-headquartered MTN shares surged 7.4% before paring gains to trade 4.8% higher at 0943 GMT.

The operator declared a final dividend of 500 cents per share, ‌up ⁠45%, and 35% above the 370 cents minimum MTN had guided for the period.

Group CEO Ralph Mupita said in a media call that MTN would introduce an enhanced framework, targeting an annual distribution of 40% to 60% of equity-free cash flow in shareholder remuneration, effective now.

The framework includes ⁠a minimum cash dividend of 40% of equity‑free cash flow, with an additional 20% available for further cash payouts or share repurchases.

Mupita said the board had approved a buyback of up to ⁠6 billion rand, “to be executed opportunistically over three years from 2026”.

The group’s service revenue rose 22.7% to 218.5 billion rand, led by strong growth of 54.9% and 35.9% ⁠in Nigeria and Ghana, respectively, the mobile operator said.

(Reuters)

Photo: Olayemi Cardoso , CBN Governor

To combat fraud, the Central Bank of Nigeria (CBN) has unveiled new regulations aimed at strengthening fraud control and digital banking security across the country.

These provisions are set to take effect from 1 May 2026.

In a circular issued to all banks, other financial institutions and payment service providers, the apex bank details amendments to the Revised Regulatory Framework for Bank Verification Number (BVN) operations and additional requirements for instant payment services.

Under the new BVN framework, financial institutions are required to maintain a temporary watchlist for BVNs implicated in suspected fraudulent transactions.Any BVN placed on this list will remain there for a maximum of 24 hours, during which the account holder will be contacted to provide clarification.

The circular also sets age restrictions for BVN enrolment, limiting registration to individuals 18 years and above, and restricts phone number amendments linked to BVNs to a single change.

Access to BVN databases will now be exclusively for CBN-licensed financial institutions, with the central bank retaining the right to grant access in extenuating circumstances under existing laws.

Indorama Ventures Public Company Limited, Nigerian Breweries Plc and Genesis Power and Energy Solutions Ltd have entered a strategic partnership to establish one of Africa’s largest state-of-the-art recycled PET (rPET) production facilities in Nigeria.

Located in Lagos, the site represents an investment to develop a facility capable of producing up to 45,000 tons of food grade rPET resin yearly, with start up targeted in the first half of 2027, a statement by the partners said.By converting post consumer PET bottles into high quality recycled material for packaging applications.

The initiative aims to meet fast rising demand for recycled content, reduce plastic waste and create local value through improved collection systems.

The project is expected to support recycling capacity in Nigeria, subject to regulatory approvals, technical validation and operational implementation.

Together, the partners aim to establish commercially viable rPET operations that enable responsible growth and long-term environmental impact.

Commenting on the landmark partnership, Executive President of Petchem and Chairman of ESG Council at Indorama Ventures, Yash Lohia, said: “This partnership marks a defining milestone in our global recycling journey. By establishing our largest recycling facility to date and one of the largest rPET sites in Africa, we are bringing Indorama Ventures’ global expertise, proven technologies and long-term vision for circularity to a region with immense growth potentials.

This investment reflects our belief that scaling sustainability solutions locally is essential to building resilient, sustainable packaging systems that deliver lasting environmental and economic value.”

Chairman and CEO of Genesis Energy, Akinwole II Omoboriowo, said: “This compelling initiative demonstrates Genesis’s commitment to deploying capital to climate-resilient investments by leveraging clean energy as a strategic nexus to advancing viable economic opportunities.

The investment is also a testament to how cross-sector partnerships can enable sustainable industrial development. By combining circular economy principles with resilient infrastructure and energy solutions, the initiative supports long-term environmental impact and local value creation.”