MTN Sees Full-Year Earnings Quadrupling on Nigeria, Ghana Gains

Telecommunications giant MTN projects its full-year earnings will quadruple in 2026, driven by strong performance in Nigeria and Ghana, its two largest African markets. The earnings surge follows expanded mobile money services and increased data revenue, capitalizing on rising digital adoption across West Africa’s growing economies. Nigeria’s regulatory reforms and currency stabilization contributed significantly, boosting MTN’s profitability after previous foreign-exchange challenges hampered growth in the region. Ghana’s market growth was fueled by higher subscriber numbers and strategic partnerships, including fintech collaborations that expanded financial inclusion through MTN’s MoMo platform. Analysts attribute the gains to aggressive network upgrades and cost efficiencies, positioning MTN to outperform regional competitors amid Africa’s accelerating digital transformation.