Prime Highlights
- MTN is shifting to a platform-led growth strategy by integrating fintech startups in payments, lending, and remittances directly into its services.
- The move strengthens MTN’s long-term vision to expand digital financial access and build a scalable technology ecosystem across Africa.
Key Facts
- MTN’s fintech division is valued at around $5.2 billion and operates in more than 10 African countries, offering mobile money, merchant payments, and cross-border remittances.
- With over $2 billion in available capital and a subscriber base of 300+ million users, MTN is well-positioned to pursue strategic acquisitions despite a slowdown in fintech funding.
Background:
Johannesburg-based telecom major MTN Group is sharpening its focus on fintech acquisitions as part of a broader strategy to transform itself into a platform-driven digital business across Africa. Moving away from opportunistic investments, the company is now prioritising startups that can be directly integrated into its existing services, allowing it to scale faster and reach millions of users more efficiently.
MTN is focusing on fintech startups involved in payments, lending, and remittances, which are seen as important areas for growing its digital finance services. Instead of chasing quick profits, the company is taking a long-term approach to build a strong and connected financial platform across Africa.
A report by Semafor says MTN is looking for acquisitions that can speed up the growth of its fintech business, improve services for customers, and add new technology to its platform.
With over $2 billion available for investment, MTN is in a strong position to make strategic purchases at a time when funding for fintech startups across Africa has slowed.
Beyond fintech, MTN is also strengthening its digital infrastructure. The company is in advanced talks to buy the remaining shares of telecom tower operator IHS Towers, in which it already owns a 25 percent stake. The deal, valued at around $2.06 billion, would increase MTN’s presence in Africa’s telecom tower market, which is expected to grow to $4 billion by 2026.
By growing both its fintech services and infrastructure, MTN is moving beyond its role as a traditional telecom company. With over 300 million subscribers, the group is shifting toward a technology-focused platform, with digital finance and connectivity driving its future growth in Africa.
