MTN Group (MTN) AGM 2025 summary

Opening remarks and agenda

• Welcomed shareholders to the 30th AGM, held virtually for broader participation and efficiency.

• Introduced board members, executive team, auditors, and legal advisors present.

• Outlined procedures for electronic participation, voting, and Q&A.

• Confirmed quorum with 0.36% of shares present and 81.82% represented by proxy.

Financial performance review

• Operational momentum accelerated in both connectivity and fintech, with active data subscribers up 9% to 162 million.

• Strong Q1 results driven by Nigeria and Ghana, with Nigeria benefiting from tariff increases.

• Service revenue up 19.8%, data revenue up nearly 29%, and data traffic up 30%.

• Group EBITDA margin expanded due to stable naira and renegotiated tower leases.

• Balance sheet remains strong with leverage at 1.5x and improved cash upstreaming.

Board and executive committee updates

• Board and executive members introduced, with biographies available in the AGM notice.

• Reports from the audit, social ethics, and sustainability committees presented.