Africa’s largest telecoms operator MTN Group is exploring banking licences in select markets as the company looks to expand lending from its own balance sheet, CEO Ralph Mupita said on Tuesday.
MTN is stepping up its push into fintech services to drive growth beyond traditional telecommunications revenue, with lending emerging as one of the fastest-growing segments within its mobile money business.
“We’re seeing good growth on advanced services, which are our future-proof services,” Mupita told journalists, referring to offerings such as payments, e-commerce and lending.
“The big growth now, which will be the growth of the future, is actually lending.”
MTN currently provides loans through partnerships with banks.
