Telecom
MTN Reports $357m Loss, Slashes Dividend

MTN Group Ltd, Africa’s biggest mobile phone operator reported a $357 million half-year loss on Friday and cut dividend payouts, following regulatory fine in imposed on the operators by the Nigerian Communications Commission (NCC) and underperformance in its South African home market.
Founded with the South African government’s help after the end of apartheid in 1994, MTN agreed in June to pay a 330 billion naira ($1.05 billion) fine in a settlement with Nigerian authorities for missing a deadline to cut off unregistered SIM cards from its network.
MTN said the fine, a third of the initial penalty, wiped off 10.5 billion rand, 474 cents per share, from headline earnings, South Africa’s main measure of profit that strips out certain one-off items.
The Group’s headline loss came in at 4.9 billion rand ($357 million), or 271 cents per share, in the six months to end-June. This compared with headline earnings of almost 12 billion rand, or 654 cents per share, a year earlier.
The company, which has more than 230 million subscribers, cut its dividend by almost 50 percent to 250 cents per share for the half year.
MTN has said its Nigerian business would pay the fine in local currency. The penalty was worth $1.7 billion when it was announced, but the naira has fallen sharply since then, cutting the equivalent dollar value by about $500 million.
The company also said the results were affected by unfavourable currency swings, underperformance in its home market and in Nigeria, where it had to cut off another 4.5 million SIM cards to comply with the local regulator’s user registration requirement.
The report by MTN read:
“MTN continued to operate in a challenging environment for the six months ended 30 June 2016. The financial performance for the period reflects the confluence of a number of material issues, which created the ‘perfect storm’. The Group has made strides towards resolving these challenges although many of these factors fall outside of its control.
“The Group’s reported results were significantly impacted by the Nigerian regulatory fine. On 10 June MTN Nigeria resolved this matter with the Federal Government of Nigeria (FGN) and agreed to pay the FGN a total cash amount of 330 billion Nigerian naira (US$1,671 billion, using the exchange rate prevailing at the time) over three years in a full and final settlement. This was agreed in addition to complying with certain other regulatory conditions imposed as part of the settlement reached.
“The 50 billion naira (US$250 million) paid in good faith and without prejudice by MTN Nigeria on 24 February 2016 forms part of the monetary component of the settlement, leaving a balance of 280 billion naira (US$1,418 billion, using the exchange rate prevailing at the time) outstanding. In June 2016 the first scheduled payment of 30 billion naira (US$124 million) was made. The remaining cash payable at 30 June 2016 amounted to 250 billion naira (US$882 million).
“The Group has accrued the present value of 280 billion naira (US$1,418 billion, using the exchange rate prevailing at the time), which in total had a negative impact of R10 499 million on reported earnings before interest, tax, depreciation and amortisation and impairment of goodwill (EBITDA) and a R8 632 million negative impact on the Group’s reported headline losses, or 474 cents on reported headline losses per share. The reported impact on the Group’s statement of cash flow for the period amounted to R5 870 million, which equates to the 80 billion naira paid during the period.
“During the period, R1 324 million costs were incurred on a range of professional services relating to the negotiations that led to a reduction of R34 billion in the Nigerian regulatory fine to 330 billion naira (US$1,671 billion, using the exchange rate prevailing at the time). The board has exercised its judgement and approved the quantum of the professional fees incurred taking into account global benchmarks and the value delivered culminating in the final settlement of the Nigerian fine.
“Apart from the Nigerian regulatory fine, the depreciation of local currencies against the US dollar had a substantial impact on the Group’s results. This resulted in foreign exchange losses amounting to R3 606 million during the period. MTN South Sudan reported an impairment on property, plant and equipment (PPE) of R259 million** (using a Rand/ Sudanese pound exchange rate of 0.376). When the impairment write-off is presented on an organic basis the impairment amounts to R2 632 million* (using a rand/Sudanese pound exchange rate of 3.837). This organic impairment write-off had a significant negative impact on organic EBITDA.
“The Group’s underlying performance was impacted by weak macro-economic conditions affecting consumer spending, the withdrawal of regulatory services in MTN Nigeria from July 2015 until May 2016 and disconnections of subscribers related to subscriber registration requirements, mainly in Nigeria. MTN Nigeria disconnected the last batch of 4,5 million subscribers in February 2016. MTN Uganda and MTN Cameroon were also impacted by subscriber registration requirements. This resulted in significant free minutes provided for subscriber re-registration campaigns, contributing to a 12,2%* decline in the effective voice tariff. The Group’s performance was further impacted by aggressive price competition and under-performance of MTN South Africa.
Telecom
GSMA Urges Import Duties Exemption for Smartphones

Global System for Mobile Communications Association (GSMA) has urged African governments to recognise telecommunications as a core economic pillar and implement specific tax reforms that could dramatically accelerate digital inclusion across the continent.

Mr. Daddy Mukadi, chair of GSMA Africa’s Policy Group, proposed a two-to-three-year exemption on import duties and taxes for entry-level smartphones priced between $40 and $150 to help bridge the usage gap.
He also called for the removal of entry duties on telecommunications equipment for at least three years to support the expansion of network coverage.
“These measures would help deliver inclusive and sustainable digital technology for economic and social progress. They would also support faster connectivity, improved access and the ability to connect more people, businesses and communities to the digital economy,” he said.
Mukadi who is also the chief regulatory officer of Airtel Africa, spoke at the first edition of the États Généraux du Secteur des Postes et Télécommunications in Kinshasa, DRC, an event convened to support the development of a strategic roadmap for the country’s digital and telecommunications sector and attended President Félix Tshisekedi.
He urged government and industry stakeholders to rethink the role of telecommunications in national development, arguing that it should be framed not as a sector specific concern, but as a continent-wide imperative.
“The telecoms sector can no longer be considered merely as a support sector. It is now a core sector. Both are vital, and every other sector, from security and finance to transport and health, depends on digital technology for growth,” Mukadi said.
His remarks come at a critical moment for Africa’s digital economy. According to the GSMA’s Mobile Economy Africa 2025 report, the mobile sector contributed $220 billion to the continent’s economy in 2024.
This is equivalent to 7.7per cent of GDP and is projected to reach $270 billion by 2030. Yet despite mobile networks now covering 95per cent of Africa’s population, nearly 75per cent of people across the continent remain offline.
The GSMA identifies this gap as Africa’s greatest connectivity challenge, driven above all by the unaffordability of devices.
Mukadi therefore called for strategic adjustments to public policy, as well as legal and regulatory frameworks, to support wider access to digital services. He said the telecommunications sector should be treated as a foundational pillar of economic development, with stakeholders working together to accelerate investment, expand coverage and close the usage gap across the continent.
The Chief Regulatory Officer of Airtel Africa also highlighted key barriers to digital inclusion, including the affordability of smartphones and the impact of import duties on telecommunications infrastructure.
He added that government and the private sector must work closely to create a regulatory environment that encourages innovation, protects consumer interests and supports long-term investment.
Telecom
Court Blocks Telcos from Cutting Nairtime’s Credit Services

Federal High Court in Abuja has issued an interim injunction restraining MTN Nigeria and Airtel Networks from suspending or interfering with Nairtime Nigeria’s access to critical telecommunications platforms including short codes, SMS, USSD, and billing services, following a directive by the Federal Competition and Consumer Protection Commission (FCCPC) that left Nigerians without a safety net.

The order, granted on April 24, 2026 in Suit No: FHC/ABJ/CS/779/2026, ensures that millions of consumers, particularly those without access to traditional banking, can continue to access airtime and data on credit, services increasingly vital for daily communication, work, education, and digital participation.
Nairtime, part of the Optasia Group, is a leading provider of airtime and data credit services in Africa and the Middle East, facilitating micro-lending for mobile users.
According to Nairtime, the court’s intervention provides policy certainty and reinforces the legitimacy of its operations, which are conducted under a valid Value-Added Service licence issued by the Nigerian Communications Commission (NCC).
The company noted that the suspension linked to the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 risked disrupting services relied upon daily by ordinary Nigerians.
Ms Uchenna Agbo, chief commercial officer of Optasia and chief executive officer of Nairtime Nigeria Limited, said: “This decision is ultimately about protecting underserved Nigerian consumers.
It ensures that millions of people, many of whom are underserved by traditional financial systems, retain uninterrupted access to essential digital services. Over time, using these services responsibly can help them prove reliability and improve their chances of accessing bigger financial opportunities in the future.
“Our platform enables responsible, data-driven lending that keeps people connected when they need it most and we look forward to working with our partners to restore services in a manner that resumes full service value to the Nigerian consumers without further delay.”
Nairtime reaffirmed its commitment to consumer and data protection through stringent governance frameworks and ethical use of artificial intelligence, and emphasised that it shares the broader consumer protection objectives of the Federal Government while remaining open to constructive engagement with regulators and industry partners.
Agbo added: “We have built a system that supports inclusion at scale, while maintaining strong risk controls for industry stability and economic impact. This ruling allows us to continue delivering safe, reliable services that Nigerians depend on every day.
“We remain focused on ensuring that the Nigerian consumer stays at the centre of innovation and will continue working with regulators and our partners, including MTN and Airtel, to promote a fair, transparent, and inclusive digital ecosystem that benefits Nigeria and all Nigerians.”
Optasia, which listed on the Johannesburg Stock Exchange in late 2025 and was founded in Nigeria 14 years ago, provides the infrastructure layer connecting mobile network operators and banks to millions of underserved customers.
Through global partnerships with 50 distribution partners and 17 financial institutions, including some of Africa’s largest MNOs and tier-one banks, the platform uses proprietary AI that processes credit decisions in under one second, using alternative data to assess risk for customers who have never held a formal credit product.
Beyond telcos, the company is also developing new propositions including SME and merchant finance, longer-term and higher-value credit, telco BNPL and revolving credit lines, and embedding its platform across adjacent ecosystems and verticals.
Telecom
Truecaller Tags Nigeria as Africa’s Spam Call Capital

Nigeria has been ranked the most spammed country in Africa, according to a new report by Truecaller has shown. The report showed that more than half of all unknown calls received by Nigerians in 2025 were identified as spam or fraudulent.

About 51 per cent of unknown calls were flagged as spam, placing Nigeria eighth in the world and ahead of African countries like South Africa, Kenya, Ghana and Ethiopia.
According to the report, most spam calls in Nigeria are linked to telecom companies and network-related promotions. Telecom-related calls made up 35 per cent of spam calls, while sales and telemarketing accounted for 10 per cent. Scam calls represented six per cent.
Truecaller said many Nigerians now struggle to know whether an unknown caller is a real network provider, a marketer, or a fraudster pretending to be from a trusted company.
The report also noted that Brazil faces a similar problem, with telecom-related calls dominating spam activities.
Globally, Indonesia ranked as the most spammed country in the world, with 79 per cent of unknown calls marked as spam. Chile came second with 70 per cent, while Vietnam, Brazil and India completed the top five.
The company added that the Middle East and Africa region passed 100 million monthly active users in late 2025, making Africa one of its fastest-growing markets.
Chief Executive Officer of Truecaller, Rishit Jhunjhunwala, said fraud and impersonation calls have become a serious global concern.
He said the company plans to focus more on stopping fraudulent calls before they reach users in 2026.
Truecaller also announced that it surpassed 500 million monthly active users worldwide as of March 31, 2026, with more than 150 million users outside India.
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