Business

MTN rebounds to profitability, hikes dividend and plans share buybacks

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).

Published

7 months ago

March 16, 2026

OCHEFA

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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)

Related Topics:Featured MTN Group MTN Nigeria

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Naira Rates To Dollar , Pound, EURO… Monday, October 5

Published

1 day ago

October 5, 2026

OCHEFA

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Black Market Exchange Rates

₦1365DOLLAR (USD)

₦1820POUND (GBP)

₦1535EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

West African CFA ₦2300CFA

Central African CFA ₦2200

Australian Dollar currency ₦850AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1330.10

POUND (GBP)₦1759.58

EURO (EUR)₦1496.76

SWISS FRANC (CHF)₦1605.62

JAPANESE YEN (JPN)₦8.45

CFA FRANC (XOF)₦2.29

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1801.60

CHINESE YUAN (CNY) ₦198.39

SAUDI RIYAL (SAR)₦354.25

SOUTH AFRICAN RAND (ZAR)₦79.91

Business

Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

Published

2 days ago

October 4, 2026

OCHEFA

33 Views

Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.

LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.

The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.

The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.

The authority also operates high-capacity and medium-capacity electric buses.

Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.

“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.

Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.

“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.

Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.

Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.

Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.