MTN plans to expand into lending across key African markets, including Nigeria, as Africa’s biggest telco seeks regulatory approvals that would allow its fintech arm to offer a broader suite of financial services.
“We’ve expanded access to credit for more people, but we also want to move further up the lending value chain,” Serigne Dioum, MTN Group Fintech CEO, said at the company’s capital market event on Wednesday. “Where appropriate, we will seek licences that allow us not only to facilitate loans but also to lend directly to customers and deploy our own balance sheet.”
MTN’s strategy underscores its ambition to capture a larger share of Africa’s underserved credit market, where access to formal lending remains limited despite growing demand. According to a 2025 report by the National Credit Guarantee Company (NCGC), nearly 80% of Nigerian Macro, Small, and Medium Enterprises (MSMEs) lack access to formal credit, while a Stears report estimates the sector faces a $236 billion funding gap.
The challenge extends beyond Nigeria. According to Dioum, only 4% to 5% of adults across Africa currently have access to formal credit, leaving a vast market largely untapped by traditional financial institutions.
