MTN Group CEO Ralph Mupita has addressed rumors about the company entering traditional banking, clarifying that MTN is currently more focused on expanding financial access rather than acquiring a commercial banking license.
Speaking at the Bright Conversations event in Accra, Mupita emphasized that MTN’s growth strategy centers on scaling its Mobile Money services to reach more people across Africa. While he acknowledged that banking could be a future possibility, he noted, “We don’t see ourselves as a bank today, but we won’t rule it out entirely.”
He stressed that MTN’s priority is bridging the financial inclusion gap, especially in regions where large populations remain unbanked.
”We’re not even halfway through our journey. There’s still a lot to be done before we consider needing a banking license,” he added.
This statement comes as MTN Group reported a 23.3% increase in service revenue, reaching $5.7 billion in the first half of 2025. The company’s strong performance in Ghana contributed significantly to this growth, with Mupita praising the local team and reaffirming MTN’s commitment to delivering high-quality service to Ghanaian customers.
Author: Jasmine Adjei
Development journalist
