MTN Ghana’s profit after tax jumped 43 percent to GH₵7.75 billion ($665.7 million) in the first nine months of 2026, driven by soaring data consumption, an expanding digital finance footprint, and heavy network traffic. The earnings surge rewarded shareholders with interim cash payouts across both connectivity and mobile money divisions.

Profit before tax advanced 47 percent to GH₵11.38 billion ($977.4 million), lifting diluted earnings per share to GH₵0.586. Boosted by the strong bottom line, the Accra-based telecoms and digital services provider declared a third-quarter interim dividend of GH₵0.03 per share, matched by a separate GH₵0.03 dividend from its newly separated fintech arm.

Combined revenue climbed 33.4 percent to GH₵23.21 billion ($1.99 billion), with core service sales showing an identical growth rate. Strong operating leverage pushed earnings before interest, taxes, depreciation, and amortization up 40.6 percent to GH₵14.28 billion ($1.23 billion), expanding the telecom operator’s EBITDA margin to a massive 61.5 percent.

Data usage fuels growth

Internet traffic remained the primary engine of top-line expansion, as data sales surged 44.5 percent to GH₵13.45 billion ($1.15 billion). The company added millions of mobile connections, pushing its active data user base up 16.1 percent to 22 million, with average monthly usage hitting 19.8 gigabytes per customer.

Data now accounts for 58.1 percent of MTN Ghana’s overall service receipts. Fintech operations also showed robust momentum, with Mobile Money revenue climbing 24.4 percent to GH₵5.37 billion ($460.9 million) across 18.9 million active wallets. Digital content sales nearly doubled, while traditional voice revenue posted a modest 7.6 percent increase.

The telecom operator strengthened its position in the West African market, lifting total mobile subscriptions 12.7 percent to 34.3 million. Cash flow generation remained solid despite heavy network investment, delivering GH₵14.6 billion ($1.25 billion) in operating cash alongside GH₵3.16 billion ($271.6 million) in third-quarter capital expenditures.

High-stakes 5G play

To protect its market dominance, MTN Ghana secured key 700 MHz and 3 GHz spectrum rights from the National Communications Authority in a $202 million deal. The 15-year licenses position the carrier for an aggressive commercial 5G rollout designed to lock in enterprise clients and home broadband subscribers.

Corporate restructuring also cleared regulatory hurdles during the year. Scancom PLC finalized the unbundling of its fintech operations on March 31, spinning off Mobile Money Ltd. into a distinct standalone company known as MMFL to comply with the country’s stringent Payment Systems and Services Act.

Total balance sheet assets expanded to GH₵68.44 billion ($5.88 billion) through Sept. 30, up from GH₵62.39 billion ($5.35 billion) in late 2025. Total equity reached GH₵15.34 billion ($1.32 billion), while retained earnings grew to GH₵12.31 billion ($1.05 billion), giving management substantial firepower for the next deployment phase.