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All about MTN
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Our reporting suite
Our approach to materiality
Navigating this report
About this report
Who we are
Our products and services
Where we operate and how we perform
Views from our Chairman
Q&A with the Group President and CEO
Q&A with the CFO
Key financial tables
Our market context
Operational performance summary
Our outlook
Investment case – a compelling African growth story

How we create and preserve value
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Creating and preserving value through our business model
Material matters impacting value creation
Social, Ethics and Sustainability Committee Chair's review
Stakeholders with whom we partner to create value
Audit Committee Chair’s review
Risk Management and Compliance Committee Chair’s review
How we manage risk
Top risks to value creation
Delivering value through our strategy
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Finance and Investment Committee Chair’s review
Our Ambition 2025 strategy
Our strategic performance dashboard
Connectivity
Fintech
Digital infrastructure
Create shared value
Portfolio optimisation

Governance and remuneration
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Directors Affairs and Governance Committee Chair’s review
Governance in support of value creation
Our Board of Directors
How the Board transformed our values into actions
Our Executive Committee
Definitions for assured non-financial data
Remuneration Report
Independent assurance practitioner’s limited assurance report
Glossary
Administration

Glossary

ALL
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C
E
F
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H
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J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
2G
Second generation mobile communications
3G
Third generation mobile communications
4G/LTE
Fourth generation or long-term evolution mobile communications
5G
Fifth generation mobile communications
AFS
Annual Financial Statements
AGM
Annual General Meeting
AI
Artificial intelligence
API
Application programming interface
ARP
Asset realisation programme
ATU
African Telecommunications Union
B-BBEE
Broad-based black economic empowerment
capex
Capital expenditure
capex intensity
Capex divided by revenue
CEO
Chief Executive Officer
CFO
Chief Financial Officer
CHASE
MTN’s framework to drive adoption of data services (Coverage, Handsets, Affordability, Service bundling, and Education and ease of access)
Churn
Average disconnections in a period divided by average monthly customers
CSI
Corporate social investment
CVM
Customer value management
EEP
Expense efficiency programme
EPS
Earnings per share
ERM
Enterprise risk management
ESG
Environmental, social and governance
Exco
Executive Committee
Financial capital
Debt and equity financing, as well as cash generated from operations and investments
Fintech
Includes MTN Mobile Money, e-commerce, insurance, airtime lending and data monetisation streams
Forex
Foreign exchange
FTTH
Fibre to the home
FTTX
Fibre to the x. Any broadband architecture using fibre to provide all or part of the local loop for last mile telecoms
FWA
Fixed wireless access
GDP
Gross domestic product
GHG
Greenhouse gas
GSMA
Global System for Mobile Communications Association
HBB
Home broadband
HEPS
Headline earnings per share
Holdco
Holding company
Human capital
The motivation, skills, safety and diversity of our employees, contractors, partners and suppliers
Hyperscaler
An operator of a data centre that offers scalable cloud computing services.
ICT
Information and communication technologies
IFRS
International Financial Reporting Standards
Intellectual capital
Our culture; our know-how; proprietary and licensed technology: procedures and processes
IoT
Internet of Things
IPO
Initial public offering
ITU
International Telecommunication Union
JSE
Johannesburg Stock Exchange
JV
Joint venture
KPIs
Key performance indicators
KRIs
Key risk indicators
KYC
Know your customer: a process to identify and verify customer identity
LA
Limited assurance
LEO satellites
Low Earth Orbit satellites
M&A
Mergers and acquisitions
Manufactured capital
Our networks; 2G, 3G, 4G and 5G base stations and fibre; electronic devices; public infrastructure.
MAU
Monthly active users
MENA
Middle East and North Africa
METVH
Middle East Tech Ventures Holding
MoI
Memorandum of incorporation
MoMo
MTN Mobile Money
MTR
Mobile termination rate
MVNO
Mobile virtual network operator
Naas
Network as a Service
Natural capital
Spectrum, energy and land
NIN
National identification numbers
NPS
Net Promoter Score
Opcos
Our operating companies
opex
operational expenditure
OTT
Over-the-Top
PAT
Profit after tax
pp
Percentage point(s)
PSB
Payment Services Bank
QoS
Quality of service
RIS
Reputation Index Survey
RoE
Return on equity
SDGs
Sustainable Development Goals
SEA
Southern and East Africa region
SIM
Subscriber identity module
SMP
Significant market power
SMS
Short message service
Social capital
Trusted relationships with customers, communities, governments and regulators, suppliers, trade unions, industry bodies and civil rights groups
SR
Sustainability Report
SRP
Share rights plan
SSA
Sub-Saharan Africa
telcos
Telecommunications companies
TP
Team performance
TSR
Total shareholder return
UN
United Nations
USME
MTN’s programme to sustain demand for voice services
USSD
Unstructured supplementary service data
VP
Vice-President
WECA
West and Central Africa
YoY
Year-on-year
About MTN
Board of Directors Executive Committee
Reporting centre
Annual reports Financial results
Definitions and glossary
Definitions for assured non-financial data Glossary Administration