Telecom
History as MTN Nigeria Becomes First to Hit ₦10 Trillion Market Cap @ NGX

MTN Nigeria Communications Plc has achieved a historic milestone, becoming the first listed company on the Nigerian Exchange Limited (NGX) to reach a market capitalization of ₦10 trillion, as its share price closed at ₦480 on Friday, August 1, 2025.

The telecommunications giant’s shares gained ₦8 or 1.69% during Friday’s trading session, pushing the company’s market value past the ₦10 trillion threshold.
This remarkable achievement comes just two days after MTN Nigeria released its stellar half-year 2025 financial results on Wednesday, which showed exceptional performance across all key metrics.
The timing is not surprising based on what was said in the company’s H1 results, which revealed a dramatic turnaround from losses to profitability.
The telecoms operator reported service revenue growth of 54.6% to ₦2.4 trillion, while EBITDA surged by 119.5% to ₦1.2 trillion with margins expanding significantly to 50.6%.
Most importantly, the company achieved a profit after tax of ₦414.9 billion, marking a stunning recovery from the loss of ₦519.1 billion recorded in the same period last year.
Speaking on the H1 2025 results that have driven investor confidence, Karl Toriola, CEO, MTN Nigeria, said: “We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market.”
Toriola emphasized the company’s strong operational momentum, stating: “Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”
The CEO’s confidence in the company’s trajectory was evident in his commentary about future prospects.
“In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola declared.
This optimistic outlook, backed by upgraded financial guidance targeting service revenue growth of “at least low-50%” and EBITDA margin of “at least low-50%” for FY 2025, has clearly resonated with investors.
Toriola highlighted improving operating conditions that have supported the company’s performance: “The macroeconomic conditions in Nigeria showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.”
He noted that “this backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.”
The ₦10 trillion market cap milestone represents extraordinary value creation for shareholders.
Telecom
New Gmail Scam Mimics Security Alerts to Steal User Data

Cybersecurity researchers at Malwarebytes Labs have exposed a sophisticated new Gmail scam where fraudsters send fake Google security alerts via phishing emails, texts, and pop-ups, tricking users into a deceptive four-step verification process that harvests login credentials, GPS locations, contacts, and other sensitive data for account takeovers.

Gmail
Disguised as routine checkups, these alerts mimic Google’s official pages to create urgency, prompting victims to install malicious “security tools” that grant hackers real-time access to Gmail and linked services—Corey Donovan, president of Alta Technologies, warns legitimate checks never come unsolicited or demand downloads, urging users to close suspicious prompts immediately and verify via official Google account pages instead.
The scam’s rise amplifies risks during travel, where public Wi-Fi hotspots—especially “evil twin” fakes like slight misspellings of “Airport_Free_WiFi”—enable interception of banking details, emails, and malware installs; Donovan advises disabling auto-connect, using VPNs for HTTPS sites only, avoiding logins altogether, and crafting strong passwords with mixed characters plus two-factor authentication.
Shoulder surfing on public transport and outdated devices compound threats, as fraudsters glimpse screens or exploit unpatched vulnerabilities—keeping phones updated with post-update privacy reviews limits app access to location or commutes, while skipping work emails in view maintains confidentiality on the go.
Nigeria’s heavy reliance on digital banking and crypto heightens vulnerability, as scammers exploit rushed travellers; Donovan stresses: “Cybercriminals target busy airports and stations knowing guards drop—stay cautious, update devices, lock privacy, and never rush links to protect against these advanced breaches.”
Telecom
Vitel Wireless Lures Subscribers with “Data that Never Expires” Campaign

Vitel Wireless, pioneer Mobile Virtual Network Operator (MVNO) licensed by the Nigerian Communications Commission (NCC), has launched an audacious “data that never expires” campaign designed to address consumer pain points in the market.

Kenneth Nwabueze, Chairman and CEO of Vitel Wireless
Fast-depleting data is a major issue for mobile users, particularly in Nigeria, with numerous complaints against network providers alleging that data plans exhaust prematurely.
But Vitel Wireless said it is now addressing the situation after extensive engagement with Nigerian consumers, particularly young people and small businesses.
Kenneth Neabueze, chairman of Vitel Wireless, said “What we’re saying to Nigerians is this, you buy the data, and you keep the data for as long as you want. There’s no more. You bought 2GB for two days, and it expires. If you buy that data under our scheme, it stays with you forever,” he said.
He added that the model promotes transparency and cost efficiency. “So it’s saving us money, it’s giving us transparency, and it’s giving us the ability to have control over how we spend and use our data,” he stated.
He noted that the concept was inspired by research into the everyday challenges Nigerians face.
“We talked to students who would tell us that in the middle of doing a project, they would be told that the data had expired, and we asked, ‘ How do we innovate?” We have analysed it, and we know, given the current economic conditions in Nigeria, you should buy the data with discounts of almost 40 per cent, and that’s why we are transparent”
The company has also unveiled a suite of products and services aimed at redefining connectivity, including its flagship Vitel Xphone.
The company explained that its services are available via both physical SIMs and eSIMs, with the 0712 number offering global use.
According to the firm, users can retain existing mobile numbers or migrate seamlessly, while enjoying nationwide coverage across all 36 states and the Federal Capital Territory with full GSM services including voice, SMS, USSD, and mobile data.
Chudi Nwabueze, chief operating officer of Vitel Wireless, described the firm as a technology telecom focused on innovation beyond traditional voice and data services.
“We’re coming in with a lot of innovation to activate applications and create tools that people can use in their businesses, homes, and daily lives,” he said.
He added that eSIM technology allows users to operate multiple lines on compatible devices, while introducing a range of digital solutions aimed at enhancing communication, safety, and business operations, anchored by its flagship Xphone.
Hence, the platform combines GSM and VoIP technologies to deliver seamless voice, video, and messaging services, along with cost-saving benefits and nationwide connectivity.
It is complemented by the Oga App, which enables real-time staff monitoring, automated payroll, and performance tracking to improve organisational efficiency.
Similarly, the network also rolled out SecureMe and Asset Tracker to address security and asset management needs.
While SecureMe provides GPS tracking and emergency alerts for personal and workplace safety, Asset Tracker helps businesses monitor and manage physical assets in real time.
Vitel Wireless noted that on pricing, challenged consumers to compare daily data costs across operators, while adding that the network offers discounts for higher volumes without imposing expiry limits.
Also speaking, Chinenye Adebayo, relationship partnership manager, outlined opportunities for Nigerians to join the company’s distribution network by visiting the website and becoming a mobile agent or sun-agents in any state.
The company noted that its offerings, including Close User Group (CUG) services and high-speed wireless network, are designed to provide integrated digital solutions for individuals and enterprises, as it seeks to position itself as a disruptive force in Nigeria’s telecom sector.
Telecom
Nigeria, Ghana Trigger Stunning 45 Percent Surge in MTN Dividends

MTN Group delivered impressive financial and operational achievements for 2025, boosted by strong performances in MTN Nigeria and MTN Ghana, as well as solid earnings from MTN South Africa.

The three core markets of Africa’s largest mobile provider enhanced profitability, free cash flow, and shareholder dividends by 45%.
IT Web Africa reported that Ralph Mupita, group CEO and president, MTN, highlighted that the telecoms giant’s robust commercial momentum across key markets capped the final year of its Ambition 2025 strategy, while laying the foundation for a new long-term growth phase under Ambition 2030.
“The Group’s overall performance in 2025 was excellent. In the final year of our Ambition 2025 strategy, we were proud to have exceeded the 300 million customers milestone,” he said.
MTN revealed that it now serves more than 307 million voice subscribers, 172 million data users, and 70 million Mobile Money customers across 16 African markets, reflecting the continent’s growing demand for digital connectivity and financial services.
The operator credited its results to disciplined commercial execution and sustained investment in network infrastructure, with R38 billion spent during the year to expand capacity, improve coverage and enhance service quality.
The group reported that data traffic surged 27%, while average monthly data consumption per user climbed to 12.5GB, up from 10.8GB a year earlier, reflecting Africa’s fast-growing appetite for digital services.
Financially, the performance was driven by MTN’s largest markets.
In constant currency terms, MTN Nigeria grew service revenue by 54.9%, while MTN Ghana increased service revenue by 35.9%.
Meanwhile, MTN South Africa recorded 2% growth, demonstrating operational resilience in one of the continent’s most mature and competitive telecom markets.
MTN Group service revenue rose nearly a quarter to R218 billion, while earnings before interest, tax, depreciation and amortisation climbed to R98.5 billion, supported by R3.6 billion in expense efficiencies.
Mupita stressed that the strong results translated into robust free cash flow and improved return generation, allowing the board to declare a dividend of 500 cents per share, up from 345 cents the previous year.
“This comfortably exceeds the minimum dividend of 370 cents we had previously guided,” he said.
The group also announced a R6 billion share buyback programme as part of an enhanced shareholder remuneration framework aimed at delivering stronger long-term returns.
Alongside its results, MTN unveiled Ambition 2030, a strategy centred on three platforms, connectivity, fintech and digital infrastructure, as it seeks to capture the next wave of growth driven by data adoption and financial inclusion across Africa.
“We are hugely excited about Africa’s potential. We are well positioned to leverage our scale, footprint and brand leadership to capture the significant structural growth opportunities identified,” said Mupita.
Source: IT Web Africa
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