MTN Ghana’s H1 Profit Jumps 56% on Back of Data and Fintech Expansion

MTN Ghana  (Scancom PLC) has reported a strong set of unaudited financial results for the first half of 2025, marked by significant increases in revenue, subscriber numbers, and profit after tax. The telco giant continues to consolidate its position as Ghana’s leading telecommunications and fintech provider, delivering resilient growth across all segments.

Financial Performance

MTN Ghana posted a 55.8% year-on-year (YoY) increase in profit after tax to GHS3.6 billion for the six months ended 30 June 2025. Service revenue rose by 40.0% to GHS11.3 billion, supported by strong momentum in data and mobile financial services. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also climbed 45.5% to GHS6.6 billion, with the EBITDA margin improving to 58.4%.

This growth translated into an interim dividend of GHS0.08 per share, up from GHS0.065 in the same period last year.

CEO Stephen Blewett attributed the performance to “strong commercial momentum and execution,” highlighting the contributions of MTN employees in navigating market challenges and unlocking value. “It is their collective effort that has enabled us to overcome challenges and seize opportunities in the market,” Blewett said.

Operational Highlights

Subscriber numbers grew healthily across the board:

• Mobile subscribers increased by 6.5% to 30.2 million

• Active data users rose by 11.0% to 18.2 million

• Mobile Money (MoMo) users reached 17.7 million, up 7.4%

Data revenue saw the highest growth at 50.8% YoY, supported by network investments and higher usage. Monthly average data usage per subscriber jumped 40.6% to 14GB. MoMo revenue also expanded by 46.4%, driven by increased transactions in both basic and advanced services, particularly digital payments and lending.

Voice revenue, while still growing at 12.6%, saw reduced usage as customers continue to shift toward VoIP services. Digital services posted an 87.7% YoY surge in revenue, fuelled by higher engagement with video and gaming platforms.

Capital Expenditure and Taxation

Total capital expenditure stood at GHS2.7 billion, focused on enhancing network infrastructure, maintaining 99.3% 4G population coverage, and improving service quality. The company paid GHS5.1 billion in direct and indirect taxes in the period, reaffirming its contribution to national development.

Social Impact and ESG

Beyond financials, MTN Ghana reiterated its commitment to shared value creation. Through its Adwumapa initiative, it extended digital and financial services to women and underserved communities. During its flagship 21 Days of Y’ello Care volunteer campaign, over 200 women were trained in sustainable skills, and 100 youth received ICT training. The company also intensified its efforts around online child safety and digital literacy.

MoMo Localisation Update

MTN Ghana confirmed that progress continues on the localisation of MobileMoney Ltd, including holding an Extraordinary General Meeting in May to engage shareholders on the process. The company said it remains aligned with regulatory expectations and will update the market as developments occur.

Looking ahead, MTN Ghana plans to sustain its growth by deepening its fintech and data services, improving user experience, and executing its Ambition 2025 strategy. It also plans to strengthen partnerships within the fintech ecosystem and continue advancing ESG goals.

The company reaffirmed its medium-term guidance of mid-to-upper thirties growth in service revenue and EBITDA margins in the mid-to-high fifties.

“MTN Ghana’s H1 2025 financial performance was achieved through strong commercial momentum and execution, sustaining the positive operational trends from the first quarter of the year. These results would not be possible without the unwavering dedication and hard work of our MTN Ghana employees, who have been crucial in driving our success. It is their collective effort that has enabled us to overcome challenges and seize opportunities in the market. We remain energised and committed to delivering on our market guidance and unlocking further value for our stakeholders.”

– Stephen Blewett, CEO, MTN Ghana