Johannesburg – MTN Group’s lending business has recorded an 80.1% increase in loan value facilitated to R69.2 billion in the first nine months of 2026, as the telecommunications giant continues to expand its financial technology operations across Africa.
According to MyBroadband, the group’s BankTech segment facilitated loans worth $4.2 billion (R69.2 billion) in the period ended September 30, driven by increased disbursements and utilisation of lending services, particularly in Ghana, Uganda and Cameroon.
The growth forms part of MTN’s broader expansion into financial services, as it seeks to diversify its revenue streams beyond traditional telecommunications.
In its quarterly results announcement, MTN said fintech transaction value increased by 36.9% to $512.5 billion, while its Mobile Money (MoMo) platform had 70.3 million monthly active users.
Advanced fintech services, which include payments, lending and other digital financial products, grew by 32.4% during the nine-month period.
Slower-growing market
MTN Group president and chief executive Ralph Mupita said the company had recorded strong growth across several African markets.
“Growth momentum was restored in MTN Nigeria; MTN Ghana sustained its strength; and the broader portfolio made an improving contribution,” he said.
The group’s overall performance was supported by a 17.2% increase in service revenue to R176.2 billion in constant-currency terms, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 22.9% to R86 billion.
According to BusinessTech, MTN’s performance was particularly strong in Zambia, Ghana and Nigeria, where EBITDA increased by 54.2%, 42.1% and 32.8%, respectively.
South Africa, however, remained a slower-growing market, with EBITDA increasing by 7% and service revenue rising by just 1% year-on-year.
Banking licences
The growing contribution of financial services comes as MTN looks to position itself as a major digital financial services provider across the continent.
In August, Reuters reported that MTN was exploring banking licences in selected African markets to expand its lending operations beyond partnerships with financial institutions.
Mupita told journalists at the time: “The big growth now, which will be the growth of the future, is actually lending.”
MTN currently provides loans through partnerships with banks but is considering opportunities to accept deposits and eventually lend from its own balance sheet in selected markets.
The group said its priorities for the remainder of 2026 included sustaining growth across its major markets, rebuilding fintech momentum towards its medium-term targets, addressing challenges in Uganda and completing its proposed acquisition of IHS Holdings.
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Compiled by Betha Madhomu
