MTN Ghana has flagged an uncertain global economy working against gains made in the West African country over the past year to reduce inflation and steady the local currency. The group, which has suffered the effects of currency devaluations in several of its key markets, has been happy with Ghana’s improved economic picture, despite some weakening of the local currency, the cedi.The average inflation rate for the first six months of 2026 was 3.8%, an improvement on the 20.4% recorded over the same period in 2025. The cedi lost 8.6% against the dollar during that time. However, that improvement is being threatened by ongoing geopolitical skirmishes. “Looking ahead to the second half of 2026, the global operating environment remains highly uncertain,” said MTN Ghana CEO Stephen Blewett as the company reported its interim earnings. “While the global economy continues to demonstrate resilience, geopolitical tensions in the Middle East, ongoing supply chain disruptions and rising trade fragmentation remain key risks to growth, inflation, energy markets and global financial conditions,” he said. MTN Ghana, the second of MTN Group’s units to report interim earnings, posted a strong operational and financial performance as it crossed 32-million subscribers. Like MTN Nigeria, the Ghanaian unit also attributed the strong performance to improved macroeconomic conditions. Service revenue increased 32.3% to 15-billion cedis (R21.2bn) in the six months to end-June, driven by “sustained demand for data services, increasing adoption of digital financial services and higher engagement across our digital platforms”.Earnings before interest, tax, depreciation and amortisation (ebitda) increased 39.8% to 9.3-billion cedis. Profit after tax increased 43.3% to 5.1-billion cedis. Mobile subscribers increased 8.5% to 32.8-million, with active data subscribers rising 13.7% to 19.9-million. Active Mobile Money (MoMo) users increased by 3.1% to 18.3-million.In April, MTN announced it had completed the separation of its fintech business in Ghana, one of several steps the group is taking to create a standalone mobile payments unit. The group has been carving out a separate fintech unit, which now operates with its own management, customer base and reporting structure.“The continued expansion of our fintech platform, coupled with the successful structural separation completed in Q1 2026 and our inclusive ecosystem play, positions the business well to capture the opportunities arising from increasing financial inclusion, digitisation of payments, and the growing demand for accessible digital financial services across Ghana,” said Blewett. Total capital expenditure (capex) for the period stood at 2.1-billion cedis. Excluding leases, capex amounted to 1.9-biilion cedis.This comes as MTN Ghana rejected claims by Clydestone Ghana relating to the alleged unauthorised use of its intellectual property and plans to contest it in court, prompting a sharp sell-off of the South African parent’s shares.MTN Ghana said in a statement on Friday it had been served with a writ of summons and statement of claim relating to IT and fintech company Clydestone Ghana’s alleged role in the initiation of mobile money services in Ghana. The matters date back almost 20 years, it said.An interim dividend of three pesewas (about R0.043) was declared, with the fintech business declaring the same, bringing the total to six pesewas per share. Business Day