MTN Posts R176 Billion Revenue as Nigeria and Ghana Drive Nine-Month Growth
MTN Group has reported R176 billion in revenue and approximately $10.7 billion across nine months of 2026, with Nigeria and Ghana identified as the primary contributors to growth momentum. The results confirm West Africa's status as the group's core expansion engine.
MTN Nigeria: the turnaround buried in the numbers
MTN Nigeria's fintech revenue was still falling as recently as mid-year — the central bank's suspension of its airtime lending service carved a hole right through Q2.
Then September happened: service revenue hit 21.6% growth, up from 13.2% in Q2, with data revenue surging 31.4% and EBITDA jumping 32.8% in a single quarter.
The Airtime Advance product is back. And when that one lending tool runs, the whole machine accelerates. That's how much a single regulatory switch can move a business at this scale.
2 sources
- MTN Group rides Nigeria and Ghana’s Q3 momentum to $10.7 billion revenue in 9M 2026 · technext24.com · T2
- MTN posts R176bn revenue as growth gathers pace · itweb.co.za · T2