Scancom PLC, the operator of MTN Ghana, posted profit after tax of GH¢2.5 billion for the three months ended March 31, 2026, a 46.8 percent rise over the same period last year, as surging data demand and a more stable macroeconomic environment drove another quarter of strong earnings growth.
Service revenue climbed 35.7 percent year-on-year to GH¢7.3 billion, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 42.9 percent to GH¢4.5 billion. The EBITDA margin widened by 3.1 percentage points to 61.2 percent, reflecting the benefit of disciplined cost management against a backdrop of easing inflation and a moderately stable cedi.
The results cover the first quarter in which the Mobile Money business operates as a structurally separate entity following the formal completion of the merger of MobileMoney Ltd and MobileMoney Fintech Ltd (MMFL) on March 31, 2026. To enable meaningful comparison with prior periods, the company presented pro-forma consolidated figures combining both entities alongside the required International Financial Reporting Standards (IFRS) statements, in which the fintech business appears as a discontinued operation.
Data was the dominant growth engine, with revenue rising 52.3 percent to GH¢4.3 billion. Active data subscribers grew 16 percent year-on-year to 20.6 million, while average monthly usage per active user expanded 40.9 percent to 18.8 gigabytes, driven by video streaming, social media, and digital applications. Data now accounts for 59 percent of service revenue, up from 52.6 percent in Q1 2025.
Mobile Money revenue rose 28.4 percent to GH¢1.7 billion, with active users reaching 18 million. Advanced fintech services, including digital payments and lending, grew 42.2 percent to GH¢603.1 million, while basic transfer services surged 65.2 percent to GH¢397.4 million.
Digital revenue more than doubled, climbing 107.1 percent to GH¢170.1 million on the back of gaming and content partnerships. Voice revenue, reflecting an industry-wide trend, declined 3.7 percent to GH¢916 million as customers migrated toward Voice over Internet Protocol services.
The company paid GH¢2.8 billion in direct and indirect taxes during the quarter, and GH¢92.2 million in fees and levies to government agencies.
In a structural change to how it rewards shareholders, MTN Ghana announced an amendment to its dividend policy to permit the declaration of interim dividends after each quarterly result. Acting on this immediately, the Board declared an interim dividend of GH¢0.03 per share for Q1 2026, with MMFL also recommending a matching dividend of GH¢0.03 per share, bringing the combined first-quarter payout to GH¢0.06 per share. Both dividends are scheduled for payment on June 18, 2026, with a qualifying date of June 5, 2026.
Chief Executive Officer Stephen Blewett said the quarter reflected disciplined execution across all business lines. “These efforts enabled us to sustain a strong commercial trajectory while reinforcing MTN Ghana’s role as a critical enabler of digital and financial inclusion,” he said.
The company ended the quarter with 32 million mobile subscribers, up 9.4 percent year-on-year, and cash and cash equivalents of GH¢7.05 billion at group level. Total capital expenditure for the period was GH¢314 million, with ex-lease spending of GH¢188.1 million directed at network capacity, coverage expansion, and IT platform improvements.
