MTN’s Fintech Revenue Falls 7.2% Despite 132% Surge in Mobile Money

MTN Fintech Revenue declined by 7.2 per cent in the first half of 2026 despite strong growth in the company’s mobile money business, as the continued suspension of airtime and data lending services weighed on overall performance.

While fintech revenue fell year-on-year, mobile money (MoMo) revenue surged by about 132 per cent, driven by rapid growth in wallet registrations and transaction activity.

The contrasting performance shows the growing strength of digital payments even as some fintech products remain constrained by regulatory actions.

MTN said registered MoMo wallets increased by 88.8 per cent compared with the same period last year, reflecting stronger adoption of its digital payment platform as more Nigerians embrace cashless transactions.

The company attributed the growth to increased customer acquisition and higher transaction volumes, reinforcing mobile money as one of the fastest-growing segments of its business.

For MTN, the numbers suggest that while lending products remain under pressure, consumers continue to rely on mobile money for everyday financial transactions.

Despite the strong performance of MoMo, the broader fintech segment remained in negative territory.

According to the company, the decline was caused by the continued suspension of airtime and data lending services, which weighed on earnings from its fintech portfolio.

“Fintech revenue declined by 7.2 per cent due to the continued suspension of airtime and data lending services, despite the strong growth in our mobile money business,” MTN said in its half-year results.

The suspension has continued to limit revenue from digital credit products, even as payment services record robust growth.

The company said the continued expansion of MoMo reflects growing demand for digital financial services across Nigeria.

Commenting on the performance, Chief Executive Officer Karl Toriola said the company continued to strengthen its commercial execution across strategic business areas.

“We delivered a strong first-half performance, with sustained commercial momentum, improved profitability and robust cash generation,” Toriola said.

Although the CEO’s comments focused on the group’s overall performance, the sharp increase in mobile money revenue highlights the growing contribution of digital payments to MTN’s long-term growth strategy.

The company said the performance reflects stronger adoption of its mobile money platform despite headwinds affecting other fintech products.

According to MTN, registered MoMo wallets grew by 88.8 per cent year-on-year, while mobile money revenue increased by about 132 per cent during the period. The company said customer acquisition and higher transaction activity continued to drive growth across the platform.

However, fintech revenue declined by 7.2 per cent because of the continued suspension of airtime and data lending services, which remained a drag on the segment’s overall performance.