MTN Group Faces Significant Profit Decline Amid Currency Challenges

MTN Group reported a 68.9% decline in annual earnings, attributed to the devaluation of the Nigerian currency and issues in Sudan. Headline earnings per share fell to 98 cents, but the company increased its final dividend to 345 cents per share from 330 cents.

On March 17, 2025, MTN Group, Africa’s largest telecommunications provider, reported a significant decline in its annual profit, with earnings dropping by 68.9%. This downturn is attributed to the devaluation of the Nigerian currency and operational difficulties faced in Sudan. The company indicated that its headline earnings per share decreased to 98 cents for the year ending December 31, down from 315 cents in 2023.

Despite these challenges, MTN declared a final dividend of 345 cents per share, an increase from the previous year’s dividend of 330 cents. The results reflect the broader economic pressures in the region, particularly the impact of currency fluctuations on profitability.

In summary, MTN Group has encountered a challenging financial year, as highlighted by a 68.9% decrease in full-year earnings due to currency devaluation in Nigeria and operational obstacles in Sudan. Despite this, the company remains committed to rewarding its shareholders, evident in the modest increase in its dividend payout.

Original Source: www.cnbcafrica.com