MTN’s Fintech Revenue Rises as Airtime Lending Takes Center Stage

MTN Fintech: Woman using MoMo app on smartphone.

The Surge Behind MTN’s Fintech Revenue

MTN Nigeria's fintech operation has skyrocketed, achieving ₦131.62 billion ($91.64 million) in the first nine months of 2025, largely thanks to its innovative airtime lending service, Xtratime. The company's massive subscriber base of 89.64 million has made it clear why this service is in such high demand—many depend on borrowed airtime to stay connected.

Strategies for Sustainability: Beyond Airtime Lending

However, airtime lending may not be a forever strategy. MTN's core fintech revenue, which excludes Xtratime, has already jumped 142.86% from ₦2.8 billion ($1.95 million) in the previous year to ₦6.8 billion ($4.73 million). This surge signals a shift toward advanced services and value-chain digitization, aimed at fostering sustained growth amidst fierce competition from Nigeria’s mobile payment giants, OPay and PalmPay.

Building a Sustainable Ecosystem

MTN recognizes the challenges that lie ahead, as mobile money transactions surged to ₦20.71 trillion ($14.42 billion) in just the first quarter of 2025, with OPay reaching 10 million daily active users. To adapt, MTN has shifted its innovative strategies, focusing on advanced services and high-value customer segments. They are leveraging existing agent networks to optimize growth without overextending resources.

Engaging Customers and Financial Inclusion

Amidst these changes, only 3.2% of MTN's subscribers are actively using the MoMo wallet—only 2.9 million users out of 89.64 million. To enhance these numbers, the company plans to deepen customer engagement and add new services designed to encourage more frequent wallet use. MTN aims to not only increase active wallets but also boost customer deposits, which jumped 146.43% year-on-year to ₦6.9 billion ($4.80 million).

Conclusion: What’s Next for Fintech in Nigeria?

The landscape for telecom-backed fintech in Nigeria is evolving quickly. Although challenges remain, MTN’s robust growth in fintech revenue signals not just success, but a potential paradigm shift in how telecoms can leverage technology to provide essential services and drive financial inclusion. As Karl Toriola, CEO of MTN Nigeria, optimistically noted, opportunities for growth and diversification are vast, and with focused execution, the future looks promising for both MTN and the broader fintech ecosystem in Africa.

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MTN’s Fintech Revenue Rises as Airtime Lending Takes Center Stage

The Surge Behind MTN’s Fintech Revenue

Strategies for Sustainability: Beyond Airtime Lending

Building a Sustainable Ecosystem

Engaging Customers and Financial Inclusion

Conclusion: What’s Next for Fintech in Nigeria?

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