MTN Ghana Shifts to Quarterly Payouts as First Quarter Profits Skyrocket to GH₵2.48 Billion

MTN Ghana reports GH₵2.48B Q1 profit and introduces first ever quarterly dividend policy as data and mobile money revenues reach record highs.

By: AXL Media

Published: Apr 29, 2026, 6:45 AM EDT

Source: Information for this report was sourced from Graphic Online

Structural Separation and the New Era of Quarterly Dividends

MTN Ghana has fundamentally altered its financial strategy, moving away from traditional interim and final dividend cycles in favor of a quarterly distribution model. This shift follows the successful structural separation of the company’s mobile money business, which was finalized on March 31, 2026. The new policy allows the board to declare dividends every three months, a move designed to provide more frequent returns to investors while maintaining a strict payout ratio of 60 to 80 percent of annual earnings. This administrative pivot signals a maturing market presence and a commitment to shareholder liquidity in an increasingly competitive landscape.

Data Revenue Explosion Drives Record Breaking Financial Gains

The company’s first quarter performance was underpinned by a 35.7 percent surge in service revenue, reaching a total of GHS7.26 billion. The most significant growth driver was data services, which saw revenue explode by 52.3 percent to reach GHS4.29 billion. This expansion was fueled by a 16 percent increase in active data subscribers, who now total 20.6 million. Individual usage has also intensified, with the average subscriber consuming nearly 19 gigabytes per month, reflecting a 40.9 percent jump in demand for high speed connectivity and digital content across the country.

Mobile Money and Digital Segments Outpace Market Expectations

Beyond traditional voice and data, the newly separated mobile money and digital divisions reported substantial gains. Mobile money revenue grew by 28.4 percent to GHS1.71 billion, while the digital revenue segment more than doubled, increasing by 107 percent to reach GHS170 million. These results highlight the success of the company’s ecosystem partnerships and its aggressive investment in fintech infrastructure. Consequently, earnings before interest, tax, depreciation, and amortization reached GHS4.45 billion, allowing the EBITDA margin to widen significantly to 61.2 percent.