MTN’s Nigerian Data Business Soars, Airtime Lending Struggles to Recover

• MTN Group’s service earnings reached 176.2 billion rand in the 9 months to September 2026, growing 17.2% in continuous currency.

• Nigeria’s third-quarter service profits increased 19.7%, while information income grew 31.4%.

• MTN Nigeria’s fintech income fell 26.6% over 9 months following the suspension of its airtime and information credit service.

• The group anticipates the service to recuperate by December however cautions that fintech development will miss its medium-term target.

November 09, (THEWILL)– Nigeria has actually turned into one of the greatest factors to MTN Group’s healing, however the nation’s regulative environment is likewise keeping back a vital part of the telecom business’s growth beyond voice and information services.

In its nine-month trading upgrade launched on Monday, November 9, the South African telecoms group reported service earnings of 176.2 billion rand, representing 17.2% development in consistent currency throughout the duration ended September 30, 2026.

Incomes before interest, tax, devaluation and amortisation (EBITDA) increased 22.9% on the exact same basis to 86 billion rand, while the group’s margin broadened to 47.9%.

MTN associated much of the enhancement to more powerful efficiency in Nigeria and Ghana, increased information intake and tighter expense management throughout its operations.

Nigeria’s service profits grew 19.7 %in the 3rd quarter, with regular monthly development speeding up to 21.6%by September. The operation likewise tape-recorded a 32.8%boost in third-quarter EBITDA.

The outcomes present 2 sides of the exact same market. Nigerians are investing more on connection, and MTN is making more from serving them. Its financial-services company, nevertheless, has yet to recuperate totally from disturbances previously in the year.

Information Strengthens MTN’s Nigerian Business

MTN Nigeria’s information earnings grew 31.4%throughout the 3rd quarter as its active information users increased 12%to 57.2 million.

Network traffic increased 30.1%, showing both a bigger client base and higher web intake.

The business’s in your area released nine-month outcomes, launched on October 30, revealed service profits reaching roughly 4.59 trillion, up 23.7% from the matching duration of 2025.

MTN Nigeria likewise reported 1.2 trillion in earnings after tax and an EBITDA margin of 56.9 %.

These numbers assist describe why the Nigerian operation has actually gained back value in MTN Group’s revenues.

Development is no longer coming totally from earlier tariff boosts. More clients are utilizing information, and existing users are taking in bigger volumes.

MTN Group reported that information now contributes 50.4% of its overall service profits throughout its markets, compared to 26.1% from voice services.

Group information earnings reached 88.9 billion rand, growing 28.2% in consistent currency.

The business increased capital investment to 28.8 billion rand over 9 months, leaving out leases, with Nigeria amongst the marketplaces getting extra financial investment.

Its obstacle is to turn increasing traffic into lucrative development while fulfilling the expense of broadening network protection, handling energy costs and preserving service quality.

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Airtime Credit Disruption Slows Fintech Ambitions

MTN’s more powerful telecoms efficiency has actually not executed uniformly to its financial-services organization.

Group fintech earnings grew 12.7%in consistent currency throughout the 9 months to September, well listed below the business’s medium-term aspiration of development in the high-20%to low-30 %variety.

Nigeria represented a vital part of that shortage.

Regulative intervention briefly suspended MTN Nigeria’s Airtime Advance service throughout the 2nd quarter, disrupting a service that permits qualified consumers to get airtime or information on credit.

MTN resumed the service in July through a brand-new multi-partner plan. Third-quarter profits from Airtime Advance consequently increased 77.9% from the 2nd quarter, although it stayed listed below the level taped before the suspension.

The interruption added to a 26.6% decrease in MTN Nigeria’s general fintech profits throughout the nine-month duration.

The business’s core Mobile Money company taped earnings development of 102.2%, supported mainly by greater interest earnings on client wallet balances.

That efficiency reveals why MTN’s fintech obstacle can not be dealt with as a basic collapse in need for its monetary services. Various items are relocating various instructions.

Throughout the group, Mobile Money month-to-month active users increased 9.3% to 70.3 million, while deal worths increased 36.9% to $512.5 billion.

MTN’s fintech EBITDA margin narrowed from 44.3% to 41.7%. Along With the Nigerian Airtime Advance disturbance, the group mentioned lower rate of interest on client funds kept in Ghana and election-related functional troubles in Uganda.

MTN anticipates Nigeria’s airtime credit service to go back to its pre-suspension level by the end of 2026. It is likewise moving Nigerian Mobile Money clients to a brand-new platform developed with Alipay+ innovation, following the platform’s August launch.

The group has actually not withdrawn its caution that fintech earnings development will fall listed below its medium-term target this year.

MTN now has a more powerful connection organization and a financial-services operation still overcoming regulative and functional modifications.

Its Nigerian efficiency reveals that increasing need for web gain access to can reinforce revenues even when another part of the exact same service battles.

The more substantial test is available in the last quarter. MTN should show that it can restore its airtime credit service without compromising compliance, recuperate fintech success and sustain the information development supporting its larger African company.