MTN explores banking licences as it targets growth in lending, AI infrastructure

Details: Manny Pham; Category: Operators; 26 August 2026; 470 views

MTN is exploring banking licences in selected markets as it looks to expand its fintech business and eventually provide loans from its own balance sheet.

Speaking to journalists in Johannesburg, South Africa, MTN Group CEO Ralph Mupita said lending is emerging as one of the fastest-growing areas of its Mobile Money business, alongside payments and e-commerce.

“The big growth now, which will be the growth of the future, is actually lending,” said Mupita.

MTN currently offers loans through partnerships with banks, but is assessing whether obtaining banking licences would allow it to take deposits and eventually lend from its own balance sheet.

Mupita said the approach would be selective, focusing on markets where MTN has large customer bases and significant funds held in mobile wallets. He added that the operator would continue using partnership-based lending alongside any balance-sheet lending.

The move would mark a further expansion of MTN's fintech operations beyond its traditional mobile money services, as the group looks to increase revenue from advanced digital services.

MTN is also targeting growth in digital infrastructure, with plans to develop AI-ready data centres in South Africa and Nigeria through Africa Data Hub Holding.

The venture, which involves an undisclosed UAE-backed investor, is intended to develop AI-enabled data centre infrastructure across key African markets.

Mupita said MTN would hold a minority stake in the venture, while its partner would provide most of the capital and technical expertise, drawing on its experience developing data centres in the UAE and other Gulf markets.

The initial phase is expected to target around 150MW of data centre capacity across South Africa and Nigeria, with further expansion dependent on demand.