Ghana emerged as MTN Group's fastest-growing market for fintech and mobile money revenue in the first half of 2026. This strong performance helped drive a 17.5% rise in the group's overall service revenue.
MTN Ghana generated R5.34 billion, equivalent to approximately GHS 5.34 billion, in fintech revenue during this period. This figure is nearly six times higher than Nigeria's R911 million and more than double Uganda's R2.58 billion. Ghana alone accounted for almost 36% of MTN Group's total fintech revenue of R14.92 billion.
This significant growth underscores Ghana's rapid adoption of digital financial services and its increasing importance in the regional telecommunications landscape. The country's robust mobile money ecosystem continues to attract users and drive transaction volumes. This trend aligns with the broader push for financial inclusion across Ghana, supported by various government and private sector initiatives.
According to MTN Group's half-year report, mobile money revenue in Ghana grew by 23.7%. This growth was supported by strong performances in both core wallet services and advanced financial offerings. Active mobile money users increased by 3.1% to 18.3 million, indicating a widening user base. Revenue from basic services, such as person-to-person transfers, rose by 21.2%. Advanced services revenue saw an even greater increase of 28.8%, driven by the adoption of digital payments and lending.
The impressive figures from Ghana contrast sharply with some other major markets. For instance, overall fintech revenue in Nigeria declined by 8% during the same period. Nigeria ended the period with five million active wallets, which is less than one-third of Ghana's 18.3 million. This highlights Ghana's leading position in mobile money penetration and usage within the MTN Group's operations.
Mobile money contributed 23.4% of MTN Ghana's total service revenue in the first half of 2026. Beyond fintech, the Ghana operation also recorded strong growth in data and digital services. Data revenue increased by 47.3%, with active data subscribers rising by 17% to 21.3 million. Average monthly data consumption per active user climbed by 38% to 19.3GB, showing increased internet usage.
Data now accounts for 58.7% of MTN Ghana's service revenue, up from 52.8% in the corresponding period of 2025. Digital revenue nearly doubled, increasing by 97.5%, fueled by greater adoption of gaming, video, and other content services. Ghana's digital growth was substantially higher than Nigeria's 20.9%. Total subscribers increased by 8.5% to 32.8 million, demonstrating overall market expansion.
The only major segment to record a decline was traditional voice revenue, which fell by 1.6%. This shift reflects consumers moving towards internet-based calling services, a global trend in telecommunications. MTN Group described its overall first-half performance as strong, with group service revenue increasing by 17.5% and EBITDA rising by 24.4% in constant-currency terms. However, Ghana's results were considerably ahead of these group averages.
MTN Ghana has established itself as the group's most productive major operation relative to its market size. This is evident across mobile money, revenue growth, profitability, digital adoption, and cash generation. The sustained growth in Ghana's digital economy suggests continued opportunities for telecommunication companies. Investors and policymakers will closely watch these trends for future economic indicators and regulatory adjustments.