MTN Ghana paid GH¢9 billion in direct and indirect taxes to the state in the first nine months of 2026, surpassing its profit after tax of GH¢7.8 billion for the same period, according to the company’s latest unaudited financial statements.
The nine-month results ended September 30, 2026, show the company’s significant contribution to public finances, with tax payments rising from GH¢7.3 billion in the prior year to GH¢9.0 billion.
In addition to the direct and indirect taxes, the company also paid GH¢533.6 million in fees and levies to government agencies.
Although the tax outlay exceeded the bottom line, MTN Ghana still delivered robust profitability, with profit after tax up 43.0 per cent year-on-year to GH¢7.8 billion.
This growth was driven by a 33.5 per cent surge in service revenue to GH¢23.2 billion, underpinned by strong performance in the data, digital, and Mobile Money segments.
Data revenue was the primary growth engine, surging 44.5 per cent to GH¢13.5 billion, supported by a 16.1 per cent increase in active data subscribers to 22.0 million.
Digital revenue nearly doubled, rising 98.0 per cent to GH¢642 million, while Mobile Money revenue rose 24.4 per cent to GH¢5.4 billion.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation rose 40.6 per cent to GH¢14.3 billion, and the EBITDA margin expanded 3.1 percentage points to 61.5 per cent.
Profit before tax rose to GH¢11.4 billion, up 47.0 per cent.
The financial statement also reported tax expense of GH¢3.6 billion for the period, up from GH¢2.3 billion in the prior year, reflecting higher taxable earnings.
Despite this heavy tax burden and substantial capital expenditure of GH¢3.2 billion, the company’s earnings per share rose 42.9 per cent to GH¢0.586.
Commenting on the performance, MTN Ghana CEO Stephen Blewett attributed the results to the resilience and diversification of the company’s growth engines.
He also noted that the business made significant investments in network capacity, including acquiring 5G spectrum in the 700 MHz and 3 GHz bands for US$202 million.
The company declared a third-quarter interim dividend of GH¢0.03 per share, with MobileMoney Fintech LTD declaring a similar dividend to its shareholders.
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