MTN Group Pursues Banking Licenses to Expand Lending

MTN Group, Africa’s largest telecom operator, is considering obtaining banking licenses in select markets to expand its lending business, as stated by CEO Ralph Mupita. This initiative is part of MTN's strategy to grow revenue beyond traditional telecommunications, with lending identified as a major growth opportunity within its expanding fintech operations.

Currently, MTN provides loans through partnerships with banks but plans to gradually use its own balance sheet for lending in markets with substantial customer bases and mobile money wallet funds. Mupita emphasized that this transition would be selective and gradual due to associated risks.

In 2025, MTN announced plans to separate its fintech operations in Nigeria, Ghana, and Uganda to create more focused financial services. In April 2026, MTN Nigeria Communications Plc revealed it would sell a 60% stake in its fintech subsidiaries to MTN Group for N152.06 billion.

MTN's fintech business is a significant revenue contributor, generating approximately N43 billion quarterly.