BY GRACE ZIGAH
MTN Ghana has reported another robust financial performance for the first half of 2026, posting a 46.8 percent increase in profit after tax to GH¢5.1 billion, driven by sustained growth in data usage, Mobile Money services and disciplined cost management.
The impressive results underscore the telecom giant’s continued dominance in the digital communications and financial services sectors, translating strong operational performance into higher shareholder returns while maintaining significant investments in future growth.
The company’s service revenue rose by 32.3 percent to GH¢15 billion, supported largely by continued expansion in data consumption and Mobile Money transactions. Earnings before interest, tax, depreciation and amortisation (EBITDA) also climbed 37.2 percent to GH¢9.3 billion, reflecting improved operational efficiency.
Speaking during an investor update webcast, MTN Ghana Chief Executive Officer, Stephen Blewett, attributed the results to the company’s resilient business model and disciplined execution despite changing market conditions.
“The first six months of the year have demonstrated the resilience of our business model and the strength of our execution,” Blewett said.
“Against the backdrop of evolving market conditions, we remain focused on serving our customers, executing our strategy, and delivering sustainable value for all our stakeholders.”
Profitability Continues to Strengthen
MTN Ghana’s profitability indicators also recorded significant improvements during the period.
The company’s EBITDA margin expanded by 3.4 percentage points to 61.8 percent, while profit before tax increased by 56.4 percent to GH¢7.4 billion.
According to Blewett, the improved margin reflects the effectiveness of MTN Ghana’s revenue optimisation and prudent cost management strategies.
“Our disciplined execution enabled us to sustain strong profitability with an uplifted EBITDA margin of 61.8 percent,” he stated.
“This underscores the effectiveness of our revenue and cost management initiatives and our commitment to balancing growth with operational efficiency.”
Higher Returns for Shareholders
The stronger financial performance also translated into improved shareholder returns.
MTN Ghana announced earnings per share of GH¢0.388, representing a 46.1 percent increase over the corresponding period in 2025.
The Board also declared a second-quarter dividend of GH¢0.06 per share, bringing the total interim dividend for the first half of 2026 to GH¢0.12 per share.
The interim dividend represents a 50 percent increase compared to the same period last year, reinforcing the company’s commitment to delivering consistent value to investors.
Strong Investment Performance
Key financial performance indicators also strengthened considerably during the first six months of the year.
Return on capital improved by 11.5 percentage points to 82.7 percent, while return on equity increased by 13.5 percentage points to 38.8 percent.
Return on assets also rose from the previous year, increasing by 2.7 percentage points to 8.4 percent.
Blewett said these figures demonstrate MTN Ghana’s ability to generate sustainable growth while continuing to invest in expanding its digital infrastructure and services.
“We are growing our revenue base, expanding profitability, generating strong returns and creating sustainable value for our shareholders while continuing to invest for future growth,” he said.
