Telecoms giant MTN Group is doubling down on its digital financial services after posting strong half-year results, with Group Chief Executive Officer Ralph Mupita highlighting financial inclusion as the company’s immediate priority.
Addressing the Bright Conversations series in Accra, Mupita revealed that MTN recorded a 23.3% year-on-year increase in service revenue, hitting $5.7 billion in the first half of 2025.
He credited strong performances in key markets, including Ghana, as a major driver of growth.
Against this backdrop, MTN intends to accelerate the expansion of its Mobile Money (MoMo) platform, which has become a cornerstone of its strategy to serve the millions of unbanked and underserved people across Africa.
“Banking is just a license that enables certain capabilities,” Mupita explained. “We don’t see ourselves as a bank today, but we’re not ruling that out in the future. For now, our energy is on scaling financial inclusion, because we’re not even halfway there.”
By prioritizing MoMo over traditional banking, MTN aims to consolidate its position as a digital-first company, bridging the gap between telecom services and financial empowerment.
Mupita also praised MTN Ghana for its contribution to the Group’s results, assuring customers that investments in technology and service delivery would continue to match the company’s growth ambitions.
With Africa’s mobile money market still expanding rapidly, MTN’s decision to stay focused on digital financial services rather than pursue a banking license positions it as a key player in shaping the continent’s financial future.
