MTN Turns Mobile Money Into a Bigger African Finance Business

MTN Group says its mobile-money business is moving beyond payments, with fintech transaction value reaching US$330.5 billion in the first half of 2026, up 33.8% in constant currency.

The telecoms group said monthly active MoMo users rose 12.1% to 70.8 million, while loan value facilitated through the platform increased 78.3% to US$2.7 billion.

The figures point to a wider shift in African mobile money, where wallets are increasingly being used for lending and other financial services as well as sending and receiving cash.

Payments are becoming only part of the business

According to MTN Group, the fintech operation processed US$330.5 billion in transaction value during the six months to June 2026.

That was 33.8% higher in constant-currency terms than a year earlier. The company also reported 70.8 million monthly active MoMo users, an increase of 12.1%.

The lending figure grew even faster. Loan value facilitated rose 78.3% to US$2.7 billion.

The figures do not mean MTN lent the entire US$2.7 billion itself. The platform facilitates financial services across its ecosystem, so the number describes loan value handled through the service.

Why the shift matters

For consumers, a mobile-money wallet can increasingly become a gateway to several financial products rather than simply a place to move cash.

For banks, telecoms and fintech companies, that creates a larger market for payments, credit and other digital financial services.

It also puts pressure on providers to keep their platforms reliable and affordable as more financial activity moves onto mobile channels.

Mwenendo has previously examined how Kenya's mobile-money market is becoming more competitive as Airtel Money targets M-Pesa with lower fees.

The investment case

The growth in transaction value gives investors a measure of how much economic activity is flowing through mobile-finance platforms.

But transaction value alone is not the same as revenue or profit. A platform can process more money without capturing the same proportion as income.

The more important questions for investors are therefore whether growing usage leads to higher revenue, stronger margins and sustainable lending performance.

MTN's numbers show that mobile money remains one of Africa's most important digital-finance growth areas, while the expansion into lending suggests the business is becoming broader than payments alone.