MTN Ghana boosts nine-month profit by 43% to $664 million — The Rio Times
In Ghana, telecommunications company MTN Ghana and the separate mobile money company MobileMoney Fintech Limited recorded combined profit after tax of 7.75 billion Ghanaian cedis, or about $664 million, in the nine months to September 30, 2026. This was 43% higher than the 5.42 billion cedis reported in the same period a year earlier.
As The Rio Times reports, service revenue rose by 33.5% to 23.15 billion cedis, or approximately $1.98 billion. EBITDA increased by 40.6% to 14.28 billion cedis, while the EBITDA margin was 61.5%, 3.1 percentage points higher than a year earlier.
Internet and mobile money
Data services delivered the strongest growth, with their revenue rising by 44.5% to 13.45 billion cedis. Mobile money revenue grew by 24.4% to 5.37 billion cedis, while digital services, including games and video, nearly doubled to 642 million cedis.
The company reported 22 million active data service users, up 16.1% year on year. The number of active mobile money users reached 18.9 million, increasing by 6.9%.
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Third quarter and dividends
From July to September, service revenue rose by 35.7% to 8.19 billion cedis, while profit after tax increased by 42.6% to 2.62 billion cedis. During the quarter, the company added about 1.5 million mobile subscribers, bringing its total subscriber base to 34.3 million.
The boards of directors of both companies declared third-quarter dividends of 0.03 cedis per share. Payment is scheduled for December 10, 2026, for shareholders on the register as of November 26.
Free cash flow nearly doubled to 7.4 billion cedis, while capital expenditure fell by 27.2% to 3.16 billion cedis. The telecommunications regulator also informed MTN of the allocation of 5G spectrum valued at $202 million.
MTN Ghana's mobile financial business has operated as a separate company, MobileMoney Fintech Limited, since March 31, 2026. Therefore, the combined figures provided are illustrative rather than formal consolidated reporting.
