MTN Ghana posts record GHC7.4bn pre-tax profit in H1 2026, driven by data and Fintech surge

MTN Ghana has delivered a stellar financial performance for the first half of 2026, posting a record profit before tax of GH¢7.4 billion. This marks a robust 44.5% increase over the GH¢5.1 billion recorded in the same period last year, underscoring the telecom giant’s accelerating growth trajectory amid a rapidly digitising economy.

The impressive bottom-line performance was underpinned by a 32.3% surge in service revenue, which climbed to GH¢14.9 billion from GH¢11.3 billion in H1 2025. The results, released to the investing public on July 31, 2026, highlight the strength of MTN’s dual-engine growth strategy—connectivity and fintech—with data services emerging as the undisputed powerhouse.

Data and Digital Services Lead the Charge

Data revenue was the star performer, soaring by 47.1% year-on-year to GH¢8.8 billion. This growth was fuelled by a 17.0% expansion in active data subscribers, reaching 21.3 million, and a remarkable 38.0% jump in average monthly data consumption to 19.3GB per user. The surge reflects deepening smartphone penetration and rising demand for video streaming and other digital services, which pushed data’s share of total service revenue to 58.7%, up from 52.8% a year ago.

“This evolution in our revenue mix confirms our strategic pivot toward higher-growth, resilient digital services,” the company noted in its financial statement.

Fintech Momentum Builds Post-Structural Separation

MTN’s fintech arm, Mobile Money Fintech Limited, contributed GH¢3.5 billion to service revenue, supported by a 3.1% increase in active mobile money users to 18.3 million. Basic mobile money services grew 21.2% to GH¢2.3 billion, driven by robust person-to-person transfers, while advanced services—including digital payments, lending, and value-added offerings—expanded 27.3% to GH¢1.2 billion.

Notably, transaction volumes and values continued their upward trend, reflecting broader ecosystem participation and stronger customer engagement. The structural separation of the fintech business, completed in Q1 2026, has enabled sharper focus and operational agility, though fintech’s share of service revenue edged down to 23.4% from 25.1% as data growth outpaced all other segments.

CEO Highlights Strategic Execution

Commenting on the results, MTN Ghana CEO Stephen Blewett said, “The first half of 2026 was underpinned by sustained commercial execution of our Ambition 2030 strategic priorities and our unwavering commitment to delivering value to customers.”

He emphasised that the momentum across data, fintech, and digital businesses has reinforced MTN’s position as Ghana’s leading connectivity and fintech provider. “Collectively, these results reflect the effectiveness of our strategic execution and the strength of our growth engines,” Blewett added, expressing confidence in the company’s ability to capture emerging opportunities and accelerate sustainable growth for all stakeholders.

Tax Contributions and Dividend Declaration

MTN Ghana also reaffirmed its status as one of the country’s largest corporate taxpayers, remitting GH¢5.6 billion in direct and indirect taxes, plus GH¢384.7 million in fees and levies to government agencies during the period. The company said this underscores its broader economic impact, supporting public sector development and national priorities.

In line with its sterling performance, the Board of Scancom PLC declared a gross interim dividend of GH¢0.03 per share for the second quarter ending June 30, 2026, payable to shareholders registered by September 4, 2026. The ex-dividend date is set for September 2, 2026. Mobile Money Fintech Limited also declared a dividend of GH¢0.03 per share for the same period, payable to shareholders and beneficiaries of the MTN Ghana Fintech Trust.

Outlook: Investment in Resilience and Home Broadband

Looking ahead, MTN Ghana reiterated its commitment to its Ambition 2030 agenda, promising disciplined execution, operational efficiencies, and selective capital allocation to high-return opportunities. The company’s investment focus will centre on strengthening network quality, expanding coverage, enhancing customer experience, and accelerating home broadband adoption.

“We remain confident in the structural growth opportunities in Ghana and in the strength of our business model,” the company stated, adding that it is well-positioned to deliver sustainable earnings growth, strong cash flow, and long-term value creation for shareholders and the nation at large.