MTN Ghana announced a significant 43.3% year-on-year increase in profit after tax for the first half of 2026. This strong financial performance led the telecommunications company to declare a second-quarter interim dividend of GHS0.03 per share.
The impressive profit growth was primarily driven by robust expansion in data services and mobile money operations. MTN Ghana recorded service revenue of GHS15.0 billion, marking a 32.3% increase over the same period last year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also rose by 39.8% to GHS9.3 billion, improving the EBITDA margin to 61.8%.
This growth aligns with Ghana's broader digital transformation agenda and increasing smartphone penetration. The country has seen a consistent shift towards digital payments and internet-based communication, which telecommunication companies like MTN are capitalising on. This trend is crucial for Ghana's economic development, fostering financial inclusion and supporting the digital economy.
Stephen Blewett, Chief Executive Officer of MTN Ghana, stated that these results reflect the successful execution of the company's long-term growth strategy. He emphasised the sustained commercial execution of their Ambition 2030 strategic priorities. Blewett added that the company remains committed to delivering value to customers, shareholders, and the broader communities it serves.
The strong momentum across data, fintech, and digital services is expected to continue driving the company's growth. Investors and market analysts will closely watch MTN Ghana's ability to maintain this trajectory amidst increasing competition and evolving regulatory landscapes. The company's continued investment in network expansion and digital services will be key to sustaining its market leadership.
Data services emerged as MTN Ghana's primary revenue driver during the period, with revenue climbing 47.1% to GHS8.8 billion. This figure accounts for nearly 59% of the total service revenue. The company attributed this performance to a 17% increase in active data subscribers, reaching 21.3 million users. Average monthly data consumption also surged by 38% to 19.3GB per active user.
Digital services also showed impressive growth, with revenue almost doubling to GHS377 million. This was supported by rising demand for video streaming, gaming, and other digital content. Conversely, voice revenue experienced a slight decline of 1.4%, indicating a continued shift by customers towards internet-based communication platforms.
MTN Ghana's Mobile Money business generated GHS3.5 billion in revenue, representing a 23.3% year-on-year growth. This growth was fueled by increased adoption of digital payments, lending services, and person-to-person transfers. During the first quarter, MTN also completed the structural separation of its mobile money business, a move described by Blewett as a major milestone.
Blewett noted that the separation enhances the operational focus and agility of the fintech business. It also strengthens its platform for future growth and supports long-term value creation. This strategic move positions the mobile money unit for greater independence and potential expansion.
Following this strong financial performance, the Board of Scancom PLC declared a second-quarter interim dividend of GHS0.03 per share. The Board of MobileMoney Ltd. also declared a GHS0.03 per share dividend. MTN Ghana remains confident about the second half of the year despite global economic uncertainty.
Blewett affirmed that the company possesses a strong financial position, a resilient operating model, and diversified growth platforms. He expressed confidence in their ability to execute strategic priorities, capture emerging opportunities, and deliver sustainable long-term value for shareholders and broader stakeholders. The company maintained its medium-term guidance for service revenue growth and EBITDA margin, pledging continued investment in network expansion, fintech, home broadband, and digital services.