MTN Ghana Grows First-Half Profit by 43.3%, Declares Quarterly Dividend as Data and MoMo Drive Growth Explained

The telecommunication giants Grows First-Half Profit by 43.3%, Declares Quarterly Dividend as Data and MoMo Drive Growth

MTN Ghana has delivered another strong financial performance, reporting a 43.3% increase in profit after tax for the first six months of 2026, as continued growth in data usage and mobile money services lifted earnings despite a challenging economic environment.

According to the company's half-year performance report, service revenue rose by 32.3% year-on-year to GHS15 billion, while EBITDA climbed 39.8% to GHS9.3 billion, pushing the EBITDA margin to 61.8%. Profit after tax reached GHS5.1 billion, reflecting stronger operational efficiency and sustained customer demand across its digital businesses.

The Board of Scancom PLC also approved a second-quarter interim dividend of GHS0.03 per share. MobileMoney Fintech Ltd (MMFL), the newly separated mobile money business, declared an identical dividend of GHS0.03 per share, marking the beginning of quarterly dividend payments under the company's revised shareholder return policy.

Data and Mobile Money Continue to Lead Revenue Growth

MTN Ghana's results show that data and fintech remain the company's strongest growth engines.

The telecommunications giant ended June with 32.8 million mobile subscribers, while active data users increased to 21.3 million. Active Mobile Money users also expanded to 18.3 million, highlighting the growing adoption of digital financial services across the country.

Management noted that rising data consumption and stronger customer engagement more than compensated for the gradual decline in traditional voice revenue, a trend that continues across the telecom industry. Fintech operations also maintained strong momentum, helping lift overall service revenue during the period.

Mobile Money Separation Completed

One of the biggest milestones during the first half of the year was the successful structural separation of MTN Ghana's Mobile Money business.

Following regulatory approval, the fintech business now operates independently as MobileMoney Fintech Ltd (MMFL). Although the businesses are legally separate, investors continue to own both through the existing stapled share structure.

MTN believes the new structure will allow its fintech business to move faster, deepen financial inclusion, expand digital payments and pursue new partnerships without changing the investment proposition for shareholders.

More Than GHS2 Billion Invested

The company continued investing heavily in its network and digital infrastructure during the period.

Capital expenditure reached GHS2.1 billion, including almost GHS1.9 billion excluding lease investments, as MTN expanded network capacity, home broadband coverage and digital services to meet rising customer demand.

Major Tax Contribution

Beyond its financial performance, MTN remained one of Ghana's largest taxpayers.

The company disclosed that it paid GHS5.6 billion in direct and indirect taxes, together with GHS384.7 million in regulatory fees and levies during the first half of 2026. The payments underline MTN's significant contribution to government revenue and national economic development.

Economic Conditions Improved but Challenges Remain

MTN said the business benefited from lower inflation compared with the previous year, although conditions became more difficult during the second quarter as the Ghana cedi weakened.

Headline inflation eased to 5.3% in June 2026, compared with 13.7% a year earlier. However, the cedi depreciated by 8.6% against the US dollar during the first half of the year, increasing operating costs toward the end of the period.

Management says the company remains focused on expanding its connectivity and fintech businesses while growing home broadband, enterprise solutions and digital services.

The company expects increasing demand for data and digital payments to support future growth and believes its operational efficiency, strong cash generation and disciplined investment strategy position it well for the second half of the year. MTN also plans to continue investing in financial inclusion, sustainability initiatives and digital infrastructure as part of its long-term growth strategy.