MTN Nigeria has reported a remarkable ₦131.6 billion in revenue from its FinTech division in the first nine months of 2025, translating to an average of ₦43 billion per quarter.
This marks a 72.5% year-on-year increase, positioning the telecom giant’s financial services arm as a formidable force in Nigeria’s evolving digital economy.
The FinTech unit, which includes Yello Digital Financial Services and MoMo Payment Service Bank, has grown from a modest ₦8.8 billion in 2015 to a core pillar of MTN’s operations. With over 85.4 million mobile subscribers and 55 million active data users, MTN has leveraged its vast customer base to build one of the most expansive digital financial ecosystems in the country.
Active wallets reached 2.9 million by September 2025, up 1.6% since December 2024, reflecting deeper customer engagement. MTN’s strategy focuses on increasing transaction volumes, expanding MoMo app adoption, and enhancing the “stickiness” of its wallet base. The platform now offers mobile payments, microloans, mobile commerce, and micro-insurance, accessible via app or USSD.
MTN’s FinTech success is underpinned by regulatory foresight. Its Super-Agent licence enables a broad agent network, while its Payment Service Bank licence allows it to compete directly with traditional banks. These licences have enabled MTN to deliver financial services across Nigeria, including underserved rural areas.
The company’s FinTech push aligns with Nigeria’s broader regulatory shift towards digital lending and open banking. Agencies such as the National Information Technology Development Agency (NITDA), the National Identity Management Commission, and the Securities and Exchange Commission are laying the groundwork for a formalised digital credit market.
MTN’s data infrastructure and customer insights give it a competitive edge in algorithmic lending. By analysing user behaviour and payment histories, the company can extend credit more efficiently than traditional banks, which often struggle with high acquisition costs and legacy systems.
With consumer lending emerging as Nigeria’s next billion-dollar opportunity, MTN’s FinTech division is expected to surpass ₦200 billion in annual revenue by 2026. Analysts suggest the unit could be spun off and listed as a standalone entity, similar to Safaricom’s M-Pesa in Kenya, unlocking additional shareholder value.
MTN’s overall performance reinforces its dominance in Corporate Nigeria. The company posted ₦3.7 trillion in revenue and ₦1.1 trillion in pre-tax profit for Q3 2025, recovering fully from previous foreign exchange losses. Voice and data services contributed ₦3.2 trillion, but FinTech is now the fastest-growing segment.
As Nigeria’s financial landscape continues to evolve, MTN’s FinTech juggernaut is not just a growth story—it’s a blueprint for digital financial inclusion at scale.
