JOHANNESBURG, Nov 9 – MTN Group reported service revenue growth of more than 17% in constant-currency terms for the nine months ended September 30, 2026, supported by improving performance in Nigeria and continued strength in Ghana.
The South African telecoms operator recorded group service revenue of 176.2 billion rand ($10.68 billion) during the period. Third-quarter service revenue increased by 16.6%, reflecting continued growth across its African markets.
Nigeria’s contribution reflects a recovery in the country’s operations, while Ghana remained a source of strong performance. The results underscore the importance of both markets to MTN’s wider growth across the continent.
Alongside its telecommunications business, MTN has been exploring banking licences in selected markets as it seeks to expand lending activities using its own balance sheet. The strategy forms part of its broader ambitions in financial technology and digital financial services.
However, the company expects fintech revenue growth for the full year 2026 to remain below its medium-term target range. MTN attributed the outlook partly to disruptions affecting its Airtime Advance business in Nigeria.
The company expects the Nigerian service to recover to pre-suspension levels by the end of 2026. The recovery will be an important factor in its efforts to restore growth in the fintech segment.
MTN’s latest performance reflects the contribution of its core telecommunications operations, while the outlook for fintech highlights the operational challenges involved in expanding digital financial services across its markets.
