After Unveiling TV Platform, MTN Announces Plans to Launch Loan App
- MTN is targeting Nigeria for expanded digital lending while addressing major credit gaps in Africa
- The telecom giant aims to transform into a full-scale digital financial services provider
- MTN Fintech generated $2.8 billion in revenue, with over 70 million active users across Africa
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
MTN is preparing to make a major move into digital lending across Africa, with Nigeria emerging as one of its biggest targets, as the telecom giant pushes deeper into financial services following the unveiling of its new TV streaming platform.
The company says it is seeking fresh regulatory approvals that would allow its fintech arm to move beyond facilitating loans to directly lending money to customers using its own balance sheet.
Source: Getty Images
Speaking at MTN Group’s Capital Markets Day on Wednesday, MTN Group Fintech CEO Serigne Dioum said the company sees lending as one of the biggest untapped opportunities on the continent.
“We’ve expanded access to credit for more people, but we also want to move further up the lending value chain,” Dioum said. “Where appropriate, we will seek licences that allow us not only to facilitate loans but also to lend directly to customers.”
MTN eyes Nigeria’s huge credit gap
MTN’s expansion comes as millions of Nigerians and small businesses continue to struggle to access formal loans from traditional banks.
According to a 2025 report by the National Credit Guarantee Company (NCGC), nearly 80% of Nigerian Micro, Small and Medium Enterprises (MSMEs) lack access to formal credit. Separate estimates from Stears put Nigeria’s MSME funding gap at about $236 billion.
The challenge is even broader across Africa.
Dioum said only about 4% to 5% of adults on the continent currently have access to formal credit, leaving a massive market largely underserved by banks and traditional lenders.
For MTN, this presents a huge opportunity to leverage its mobile money ecosystem, telecom infrastructure, and customer base to expand digital lending services.
Nigeria becomes key focus for expansion
MTN Group CEO Ralph Mupita confirmed that Nigeria sits at the centre of the company’s fintech growth strategy.
According to him, the telecom giant is currently pursuing additional licences in Nigeria and several other African markets to broaden its financial services offerings, although he declined to disclose the exact licences being sought.
“Nigeria is a key market in this regard, but the opportunity extends across several of our markets,” Mupita said.
The move marks MTN’s latest effort to transform itself from a telecom operator into a full-scale digital financial services provider.
Fintech business delivers billions
MTN’s fintech division has rapidly become one of the group’s strongest growth engines.
The company disclosed that MTN Fintech generated about $2.8 billion in revenue in 2025 while processing more than $500 billion in transaction value and over 23 billion transactions across its markets.
MTN also revealed that it now serves more than 70 million active MoMo users, works with over 2 million merchants, and operates through an agent network of more than 1.4 million people across Africa.
According to Dioum, more than one million people already access loans daily through MTN-linked platforms to finance businesses, restock inventory, or handle emergency expenses such as healthcare bills.
However, becoming a direct lender could significantly boost MTN’s earnings while giving it greater control over customer relationships and loan products.
Fresh licences and CBN approval in focus
In Nigeria, MTN has already taken steps to strengthen its fintech footprint through its subsidiary, MoMo PSB.
In November 2024, the company applied for Payment Solution Service Provider (PSSP) and Payment Terminal Service Provider (PTSP) licences to deepen its role in digital payments and reduce dependence on third-party processors.
The telecom giant is also awaiting approval from the Central Bank of Nigeria (CBN) for the structural separation of its fintech business.
Mupita described the process as complex but necessary to position MTN for the next phase of fintech growth.
“These separations are complex,” he said. “Regulators are carefully assessing the structure to ensure it is completed in the most tax-efficient manner possible.”
Source: UGC
MTN believes payments, remittances, and lending will drive Africa’s next fintech boom as the continent gradually shifts away from cash-based transactions.
MTN unveils new pay package for Chairman
Legit.ng earlier reported that MTN Nigeria shareholders have approved a new remuneration package for the company’s chairman and non-executive directors, with Chairman Ernest Ndukwe set to earn N167.98 million for the 2026 financial year.
The approval was granted during the telecom operator’s Annual General Meeting held on April 30, 2026, according to a corporate disclosure filed with the Nigerian Exchange Limited.
Under the approved structure, each of the company’s other non-executive directors will receive N108.37 million for the financial year ending December 31, 2026.
Source: Legit.ng
