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Telecommunications · Mobile, digital and fintech services

MTN Group

JSE-listed telecommunications group formed as M-Cell in 1994 and renamed MTN Group in 2002.

Published · Last reviewed

MTN Group is the JSE-listed parent of mobile, digital and financial-services businesses across Africa. It was incorporated as M-Cell in 1994. [1][3]

History

M-Cell listed in 1995, assembled full ownership of MTN Holdings by 2000 and changed its name to MTN Group in 2002. [1]

Nigeria and the 2006 Investcom acquisition changed the group’s scale. MTN served 317.7 million customers at 30 June 2026. [1][2][6]

Ownership, votes and management

GEPF held 19.94% and M1 Limited held 5.94% at 31 December 2025. Every ordinary share carried one vote for the May 2026 AGM. [4][5]

Ralph Mupita served as group president and chief executive at the review date. His management office is separate from shareholder ownership. [7][4]

Frequently asked questions

Was MTN Group called M-Cell?

Yes. The listed company changed its name from M-Cell to MTN Group in 2002. [1]

Who owns MTN Group?

Ownership is distributed. GEPF held 19.94% and M1 Limited held 5.94% at 31 December 2025. [4]

Who leads MTN Group?

Ralph Mupita served as group president and chief executive at the review date. [7]

Key milestones

  1. M-Cell incorporated and MTN South Africa launched. [1]

  2. M-Cell acquired the remaining MTN Holdings shares. [1]

  3. M-Cell changed its name to MTN Group. [1]

  4. MTN acquired Investcom. [2]

Company builders

  • Phuthuma Nhleko — South African business leader who led MTN Group through its main African and Middle Eastern expansion phase from 2002 to 2011.
  • Ralph Mupita — South African engineer and business executive who became MTN Group president and chief executive in September 2020.

Related articles

Related institutions

  • MTN Holdings — Intermediate MTN holding and debt-issuing company that sits between the listed parent and major operating interests.
  • MTN South Africa — South African mobile-network operation that launched commercial service on 1 June 1994.
  • MTN Nigeria — Nigerian telecommunications company launched in August 2001 and listed on the Nigerian Exchange in May 2019.
  • Investcom — Dubai and London-listed telecommunications company acquired by MTN Group for US$5.5 billion in 2006.
  • Johnnic Holdings — Historical MTN shareholder that unbundled a 31.9% MTN Group interest to its shareholders in 2003.

Sources

  1. MTN Group, Sustainability Report 2003, 2003-03-31. Original source. Accessed 2026-10-27. ↩
  2. MTN Group, Integrated business report for the year ended 31 December 2006, 2006-12-31. Original source. Accessed 2026-10-27. ↩
  3. MTN Group, Integrated Report for the year ended 31 December 2025, 2026-04-29. Original source. Accessed 2026-10-27. ↩
  4. MTN Group, Annual Financial Statements for the year ended 31 December 2025, 2026-03-13. Original source. Accessed 2026-10-27. ↩
  5. MTN Group, Notice of the 31st Annual General Meeting, 2026-04-28. Original source. Accessed 2026-10-27. ↩
  6. MTN Group, H1 2026 results: record margin, earnings, cash flow and returns, 2026-08-24. Original source. Accessed 2026-10-27. ↩
  7. MTN Group, Ralph Mupita: Group President and Chief Executive Officer. Original source. Accessed 2026-10-27. ↩