MTN Ghana has reported a 33.5% increase in service revenue to GHS23.2 billion for the nine months ended September 30, 2026, as growing demand for mobile data and digital services strengthened its financial performance.
The company, which operates as Scancom PLC, also recorded a 43% increase in profit after tax to GHS7.8 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 40.6% to GHS14.3 billion.
Its third-quarter performance contributed significantly to the results. Service revenue for the three months ended September increased by 35.7% year-on-year to GHS8.2 billion, while EBITDA grew 42.1% to GHS5 billion.
MTN Ghana’s Chief Executive Officer, Stephen Blewett, attributed the performance to growth across its connectivity and fintech businesses, alongside cost management and operational efficiency.
“We delivered another strong quarter in Q3 2026, with broad-based growth across our connectivity and fintech businesses,” Blewett said.
The results were presented on a combined basis for Scancom PLC and MobileMoney Fintech Limited (MMFL), following the separation of MTN Ghana’s fintech business on March 31, 2026. The company clarified that the combined figures are for illustrative purposes and are not consolidated financial statements.
Data remains MTN Ghana’s biggest revenue driver
Mobile data was the largest contributor to MTN Ghana’s service revenue during the nine-month period. Data revenue increased by 44.5% to GHS13.5 billion, accounting for 58.1% of total service revenue, up from 53.6% in the same period of 2025.
Customers also used more data. Average monthly consumption per active data subscriber rose by 36.8% to 19.8GB, reflecting increased demand for internet access and digital services.
Other business segments also recorded growth. Mobile Money revenue increased by 24.4% to GHS5.4 billion, while digital revenue nearly doubled, rising by 98% to GHS642 million. Voice revenue grew by 7.6% to GHS3.1 billion. The growth also comes as MTN continues to expand its financial services business.
The company’s customer base expanded during the period, providing a larger base for its data and digital services. Mobile subscribers increased by 12.7% to 34.3 million, active data subscribers rose by 16.1% to 22 million, and active Mobile Money users grew by 6.9% to 18.9 million.
MTN added approximately 1.5 million mobile subscribers in the third quarter, alongside 700,000 active data subscribers and 600,000 active Mobile Money users.
The growing demand for data is not unique to Ghana alone. In Nigeria, Airtel, one of the country’s leading telecommunications operators, generated $544 million from data services in the six months ended September 30, 2026, covering the period between April and September.
This was 47% higher than the $370 million generated from voice services during the same period.
MTN Nigeria also followed in this direction. TechMedia Africa reported in August that MTN Nigeria generated N1.7 trillion from data services in the first six months of 2026, representing a 38.4% increase from the same period in 2025.
New spectrum allocation will support 5G expansion
Alongside its revenue growth, MTN Ghana is preparing to expand its network capacity after receiving notification from the National Communications Authority (NCA) of a spectrum award in the 700 MHz and 3 GHz bands.
The allocation comprises 2×20 MHz in the 700 MHz band and 1×150 MHz in the 3 GHz band. The licences are valid for 15 years and are intended to support 5G and mobile broadband services.
MTN Ghana said the spectrum would help expand its 5G network and strengthen its home broadband offering. The acquisition cost of US$202 million has already been included in the company’s free cash flow outlook and will not change its full-year 2026 free cash flow or dividend expectations.
The planned expansion comes as the company continues to invest in its network. MTN Ghana had previously been involved in Ghana’s renewed 5G licensing process, alongside Telecel Group
Capital expenditure for the nine-month period declined by 27.2% to GHS3.2 billion, including GHS2.6 billion in ex-lease capital expenditure. However, total costs rose by 23.2% to GHS8.9 billion, partly reflecting higher network-related spending, rent, utilities and maintenance.
The additional spectrum gives MTN more capacity to develop its newer services as data consumption increases. Its investment plans also reflect the growing importance of 5G and home broadband to its future growth.
