MTN Ghana recorded higher profits and stronger shareholder returns in the first half of 2026, driven by growth in data and mobile money services. Profit after tax rose 46.8% year-on-year to GH¢5.1 billion.

Service revenue increased by 32.3% to GH¢15 billion, while EBITDA rose 37.2% to GH¢9.3 billion.

Speaking during an investor update webcast, MTN Ghana CEO Stephen Blewett said the results reflected the strength of the company's business model.

"The first six months of the year have demonstrated the resilience of our business model and the strength of our execution. Against the backdrop of evolving market conditions, we remain focused on serving our customers, executing our strategy, and delivering sustainable value for all our stakeholders," he said.

The company's EBITDA margin expanded by 3.4 percentage points to 61.8%, while profit before tax rose 56.4% to GH¢7.4 billion.

Mr Blewett said the improved margin was due to disciplined execution and cost management.

"Our disciplined execution enabled us to sustain strong profitability with an uplifted EBITDA margin of 61.8%. This underscores the effectiveness of our revenue and cost management initiatives and our commitment to balancing growth with operational efficiency," he said.

Earnings per share rose 46.1% to GH¢0.388. MTN Ghana declared a second-quarter dividend of GH¢0.06 per share, bringing the total interim dividend for the first half of the year to GH¢0.12 per share, a 50% increase over the same period last year.

The company also recorded improvements in key return metrics: return on capital rose by 11.5 percentage points to 82.7%, return on equity rose by 13.5 percentage points to 38.8%, and return on assets improved by 2.7 percentage points to 8.4%.

"We are growing our revenue base, expanding profitability, generating strong returns and creating sustainable value for our shareholders while continuing to invest for future growth," Mr Blewett said.

He added that the first-half performance reflected the strength of the company's strategy, with growth across connectivity, fintech, digital services, home and enterprise solutions supporting its long-term outlook.