Scancom PLC (MTN Ghana) recorded GHS15.0 billion in service revenue for the first half of 2026. This represents a significant 32.3% increase compared to the same period last year. The strong performance was fueled by robust growth across its data, digital, and fintech businesses.
The company's profitability also saw substantial gains, with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) growing by 47.1% to GHS9.3 billion. This improved the EBITDA margin to 61.8%. Profit after tax increased by 46.1% to GHS5.1 billion, and earnings per share rose to GHS0.388. These figures highlight MTN Ghana's focus on efficient operations and strategic execution.
This strong financial showing by MTN Ghana underscores the increasing digitalization of the Ghanaian economy. The telecommunications sector remains a critical driver of economic activity, contributing significantly through direct and indirect taxes. The company's continued investment in network infrastructure and digital platforms supports the government's broader agenda for digital transformation and financial inclusion across the nation.
Stephen Blewett, CEO of MTN Ghana, stated, "Our business’ resilience and successful execution of our strategy is evident in our first-half performance." He added that continued investment empowers Ghanaians and bolsters the economy through substantial tax contributions. The company paid GHS5.6 billion in direct and indirect taxes and GHS384.7 million in fees and levies during the period.
Looking ahead, MTN Ghana's strong performance suggests continued expansion in the digital economy. The successful separation of its Mobile Money business is expected to enhance its fintech operations, potentially leading to further innovation and market penetration. Investors and policymakers will closely watch how these strategic moves impact competition and consumer access to digital services in Ghana.
Data services were a primary growth engine, with revenue increasing by 37.2% year-on-year. This was supported by a 17.0% rise in active data subscribers and a 38.0% increase in average data usage. The growing adoption of smartphones and demand for digital services contributed significantly to this trend.
MTN Ghana's digital services business also showed strong momentum, with digital revenue soaring by 98.0% year-on-year. This growth was driven by the increasing adoption of gaming, video, and other digital content services. The company is actively expanding its offerings in these areas to meet evolving consumer demands.
The fintech business maintained its robust growth trajectory, with Mobile Money revenue increasing by 23.3%. This was due to greater adoption of digital financial services within the MoMo ecosystem. Transaction volumes grew by 27.3%, and transaction value increased by 44.4% year-on-year, demonstrating the widespread use of mobile money in Ghana.
A significant milestone during this period was the successful completion of the structural separation of its Mobile Money business. This separation aims to enhance operational focus and agility within the fintech segment. It is expected to strengthen the platform for future growth and long-term value creation for shareholders.
MTN Ghana also revised its dividend policy to allow for quarterly interim dividends, subject to available cash resources and compliance with debt covenants. The company declared a total interim dividend of GHS0.12 per share for the period, marking a 50% increase year-on-year. This reflects the company's commitment to delivering value to its shareholders.
Beyond financial metrics, MTN Ghana deepened its investment in social development. It scaled the SME Accelerate Programme and expanded the MTN Bright Scholarship Scheme. The company also commissioned a new Accident and Emergency Centre at the Ho Teaching Hospital, demonstrating its commitment to corporate social responsibility.
Through the 2026 Y'ello Care programme, MTN delivered 3,888 hospital beds and accessories to seven regional hospitals. It also settled medical bills and health insurance for 70 patients. These initiatives ensure that shared value is delivered where it matters most, impacting communities positively.
MTN Ghana remains confident in its medium-term outlook and Ambition 2030 strategy. This strategy focuses on leading customer experience, expanding connectivity, and accelerating fintech growth. It also emphasizes strengthening digital infrastructure, leveraging artificial intelligence, and creating shared value for all stakeholders.