MTN Nigeria’s financial technology arm is fast becoming one of the company’s biggest growth engines.
The FinTech unit, which includes Yello Digital Financial Services and MoMo Payment Service Bank, generated ₦131.6 billion in revenue in the first nine months of 2025, a 72.5% increase from the same period last year. The division now contributes a meaningful share of group revenue, positioning MTN as a growing force in Nigeria’s digital finance sector.
MTN said the growth came from a rise in active wallets and transaction volumes, supported by its large subscriber base. The company had 85.4 million mobile subscribers as of September, including 55 million active data users.
Active wallets reached 2.9 million, up from 2.85 million at the end of 2024. MTN said it continues to focus on “quality and stickiness” by driving adoption of its MoMo app and expanding use cases such as payments, microloans, and insurance.
The company has built one of the most extensive agent networks in Nigeria through its Super-Agent and Payment Service Bank licences, allowing it to compete with traditional banks while reaching rural and underserved areas.
“MTN’s FinTech ecosystem is designed to make digital transactions simple, secure, and inclusive,” the company said in a statement. “We see financial inclusion as a major opportunity for growth.”
MTN reported ₦3.7 trillion in overall revenue and ₦1.1 trillion in pre-tax profit for the third quarter, marking a recovery from foreign exchange losses over the past two years.
Analysts say the FinTech business could soon be spun off into a standalone entity, similar to Safaricom’s M-Pesa model in Kenya. A separate listing, they said, could unlock significant shareholder value.
MTN first tracked FinTech revenue in 2015, when it made ₦8.8 billion. A decade later, the business has grown more than fifteenfold.
