MTN Ghana reports $1.3 billion service revenue as profit jumps 43% in H1 2026

Scancom PLC, operator of MTN Ghana, delivered a strong first-half performance in 2026, reporting $1.3 billion in service revenue as profit climbed 43%, driven by robust demand for data services and sustained growth in fintech adoption.

The telecom operator continues to evolve into a digital-first platform, with data and Mobile Money now at the core of its revenue model. Rising smartphone penetration, increased data consumption, and expanding financial inclusion across Ghana supported growth across its ecosystem.

Data drives revenue as mobile money sustains fintech momentum
Data revenue emerged as the largest growth driver, rising 47% year-on-year to GH₵8.8 billion ($751.4 million). Active data subscribers increased to 21.3 million, while average monthly data usage climbed significantly, reflecting deeper digital engagement. Data now contributes nearly 59% of total service revenue, up from about 53% a year earlier, reinforcing MTN Ghana’s strategic pivot toward high-margin digital services.

Mobile Money revenue rose 23% to GH₵3.5 billion ($298.88 million), supported by strong adoption of digital payments, transfers, and lending services. Active users reached 18.3 million, with transaction volumes continuing to expand. Despite this growth, Mobile Money’s contribution to total service revenue declined slightly due to faster expansion in data revenue.

Profit surges, digital services accelerate, voice declines
Digital services revenue nearly doubled, rising 98% year-on-year, driven by demand for streaming, gaming, and content platforms. In contrast, voice revenue declined as customers increasingly shifted to internet-based communication. Voice now accounts for a smaller share of total revenue, reflecting a structural shift in telecom consumption patterns.

MTN Ghana’s strong top-line performance translated into improved profitability. EBITDA rose nearly 40%, with margins expanding above 60%, reflecting operational efficiency and scale benefits. Profit after tax increased 43%, while earnings per share also recorded strong growth, underscoring the company’s earnings resilience.

Fintech separation marks strategic milestone
A key development during the period was the structural separation of MTN Ghana’s fintech business into Mobile Money Fintech Limited. The move enhances operational focus and improves transparency for investors tracking telecom and fintech performance separately.

The company declared an interim dividend for the period, reflecting continued confidence in its cash flow generation and financial position. MTN Ghana remains cautiously optimistic despite global economic uncertainties, including currency volatility and geopolitical risks.

The company plans to deepen its Ambition 2030 strategy by expanding network infrastructure, scaling fintech services, and strengthening its digital ecosystem. With data and fintech firmly established as its primary growth engines, MTN Ghana is positioning itself as a leading digital platform in West Africa’s fast-evolving telecom and financial services landscape.