In a significant strategic pivot, MTN Group is aggressively pursuing fintech licences to directly enter the lending market across its key African operations, with a particular focus on Nigeria. This move, central to its 'Ambition 2030' strategy, aims to transform MTN's Mobile Money (MoMo) platform from primarily a payments facilitator into a comprehensive financial services ecosystem, directly deploying its balance sheet to bridge Africa’s massive credit gap. The initiative comes as MTN finalizes the structural separation of its fintech businesses in Nigeria and Uganda, preparing them for strategic investments and deeper market penetration.
MTN's Bold Leap into Direct Lending
MTN Group Fintech CEO, Serigne Dioum, highlighted the company's intent to move beyond merely facilitating loans through partners. At a recent capital market event in early June 2026, Dioum articulated MTN's ambition to become a direct lender, leveraging its extensive network and customer data. This strategic shift is designed to capture a larger share of Africa's underserved credit market, where access to formal lending remains severely limited for both individuals and businesses.
'We've expanded access to credit for more people, but we also want to move further up the lending value chain. Where appropriate, we will seek licences that allow us not only to facilitate loans but also to lend directly to customers and deploy our own balance sheet.'
— Serigne Dioum, MTN Group Fintech CEO
The opportunity is substantial. Current estimates indicate that only 4% to 5% of adults across Africa currently have access to formal credit, leaving a vast, untapped market. Nigeria, Africa's largest economy, is a central focus, where an estimated nearly 80% of Micro, Small, and Medium Enterprises (MSMEs) lack access to formal credit, facing a staggering $236 billion funding gap. MTN Group CEO Ralph Mupita emphasized that the company is pursuing additional licences in Nigeria and other markets to offer a broader suite of financial products and services.
Fintech Performance and Strategic Partnerships
MTN's fintech division has demonstrated robust growth, serving over 70 million active MoMo users across 14 markets. In 2025 alone, MTN Fintech generated approximately $2.8 billion (R28.8 billion) in revenue, processed more than $500 billion in transaction value, and handled over 23 billion transactions. This performance underscores the immense potential MTN sees in further digitizing financial services across Africa, aiming to grow fintech revenue 13-fold by 2030.
To bolster this expansion, MTN Group Fintech announced a strategic partnership with Ant International, Alipay's global payments and fintech arm, in early June 2026. This collaboration is set to launch in Nigeria next quarter (Q3 2026) and will transform the MoMo platform into a comprehensive 'super-app' offering payments, savings, commerce, and lifestyle services within a single interface. Furthermore, MTN is finalizing the structural separation of its fintech operations in Nigeria and Uganda. This reorganisation is crucial for attracting strategic investors, including Mastercard, which made a landmark investment valuing MTN's fintech business at approximately $5.2 billion in 2023.
Addressing Africa's Credit Gap: A Visual Overview
The pressing need for formal credit across Africa is evident in the stark statistics:
Data based on 2025/2026 reports.
MTN’s expansion into direct lending signifies a strategic evolution from a pure telecommunications provider to a diversified technology platform, aiming to be at the forefront of digital financial inclusion across the continent. This move is expected to intensify competition within the African fintech landscape, challenging traditional banks and emerging digital lenders alike.
