MTN Ghana posts strong interim results

MTN Ghana CEO Stephen Blewett said the company continued to see strong commercial momentum across its data, fintech and digital businesses.
MTN Ghana CEO Stephen Blewett said the company continued to see strong commercial momentum across its data, fintech and digital businesses.

MTN Ghana paid GHS5.6 billion ($481m) in direct and indirect taxes, and GHS384.7 million ($33m) in fees and levies to government agencies, positioning it as one of the country’s largest corporate contributors.

The telecom services provider disclosed the contribution as it reported results for the six-month period ended 30 June 2026.

The payments underscore MTN Ghana’s economic contribution, alongside strong financial performance, the company said.

MTN Ghana CEO Stephen Blewett said: “Together with our ongoing community investment programmes, they demonstrate our commitment to creating shared value for shareholders, customers, communities and the nation at large.”

He said the company continued to see strong commercial momentum across its data, fintech and digital businesses in the period, supported by growth in active users, increased service adoption and disciplined execution.

This resulted in first-half (H1) 2026 service revenue growth of 32.3%, reinforcing MTN Ghana’s position as a provider of connectivity and fintech solutions.

Blewett said the results highlight the resilience of the company’s connectivity and fintech businesses, with data and digital services offsetting a marginal decline in voice revenue.

Fintech also contributed strongly to overall service revenue growth.

Supported by revenue growth, cost optimisation and execution of its efficiency programme, EBITDA increased by 39.8% year-on-year, with margin expanding by 3.4 percentage points to 61.8%. Profit after tax rose by 43.3% to GHS5.1 billion.

Operationally, MTN Ghana increased mobile subscribers by 8.5% to 32.8 million, while active mobile subscribers rose by 3.1% to 21.3 million. Active Mobile Money users reached 18.3 million, up 32.3%.

Service revenue increased to GHS15.0 billion, while capital expenditure totalled GHS2.1 billion (GHS1.9 billion excluding leases).

MTN Ghana has, in recent years, focused on expanding its fintech and data services as part of the MTN Group’s broader Ambition 2025 strategy, which prioritises platform growth, digital services and financial inclusion across its markets. 

The operator remains one of the group’s strongest-performing subsidiaries in West Africa, driven by mobile money adoption and rising data demand.

Looking ahead, Blewett said the global environment remains uncertain due to geopolitical tensions, supply chain disruptions and trade fragmentation. 

However, Ghana’s macroeconomic outlook remains broadly supportive, with moderating inflation, improved reserves and resilient economic activity. The Bank of Ghana expects inflation to trend towards its medium-term target band of 8% ±2%.

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