Africa’s largest telecom operator, MTN Group, is considering obtaining banking licences in some of its African markets, a move that could significantly expand its role in financial services and put parts of its business into more direct competition with traditional banks.
- MTN is considering banking licences in selected African markets as it expands beyond mobile money into lending and other financial services.
- The licences could allow the telecom giant to take deposits and finance loans from its own balance sheet instead of depending mainly on banking partners.
- The shift comes as MTN’s MoMo platform grows into one of Africa’s largest financial ecosystems, processing more than $500 billion in transactions in 2025.
- Lending is already expanding rapidly across the platform, particularly in markets such as Ghana and Uganda.
- Image credits: https://tse3.mm.bing.net/th/id/OIP.vUJSgL9jxsj4CYJXuC9DOAHaHa?r=0&rs=1&pid=ImgDetMain&o=7&rm=3
- Click here for more information.