MTN eyes fintech acquisitions to accelerate payments, lending and remittances push
MTN is on the lookout for fintechs in the payments, lending, and remittance space in a bid to accelerate its financial services offering, according to a report by Semafor.
“This is not about buying things and flipping them. It’s about strengthening the platform. If an acquisition helps us grow faster, improve the customer experience, or bring new capabilities into the group, that’s what we’re interested in,” CEO Ralph Mupita said.
In Africa, MTN’s fintech operation largely revolves around its mobile money business, which is present in more than 10 African countries. The service allows customers to send money domestically, pay merchants online and offline, and increasingly conduct cross-border remittances. Mobile money has become a cornerstone of MTN’s diversification strategy as traditional voice revenues stagnate and competition in data intensifies.
However, MTN’s definition of fintech extends beyond wallet-based services. In markets such as Nigeria, the company has frequently highlighted its airtime lending business — through which customers borrow airtime or data and repay later — as a fintech product. That segment alone generated more than ₦131 billion in revenue in 2025.
