According to Semafor, MTN is actively pursuing fintech acquisitions to bolster its rapidly expanding digital finance services, which already support payments, merchant transactions, airtime lending, and cross-border remittances across more than 10 markets. Valued at around $5.2 billion, MTN’s fintech platform surpasses many African unicorns, reflecting its dominance in mobile money and digital finance.
CEO Ralph Mupita emphasises that acquisitions are meant to strengthen MTN’s platform for sustainable growth, not for quick financial flips. “If an acquisition helps us grow faster, improve the customer experience, or add new capabilities, that’s what matters,” he said.
With over $2 billion in cash, MTN is well-positioned to pursue deals that enhance customer value, even as Africa’s fintech sector faces a funding slowdown. Mupita believes scale is transformative, noting, “Small improvements at our scale can be game-changers.”
Beyond fintech, MTN is expanding into digital infrastructure. The group is in advanced talks to acquire IHS Towers, where it already owns a 25% stake, in a deal valued at roughly $2.06 billion. This move would deepen its presence in Africa’s booming tower market, projected to reach $4 billion by 2026.
By pairing financial services with control over key infrastructure — including fibre, towers, and data centres — MTN aims to build a comprehensive digital platform for Africa’s future. “We’re no longer just a telco,” Mupita said. “We are building platforms.”
