MTN Ghana paid GH¢9.0 billion in direct and indirect taxes to the state in the first nine months of 2026, a figure that surpasses the telecommunications giant’s profit after tax of GH¢7.8 billion for the same period, according to the company’s latest unaudited financial statements.
The financial results for the nine-month period 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.
While the tax outlay exceeded the bottom line, MTN Ghana still delivered a robust profitability performance, with profit after tax increasing by 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 performances in data, digital and Mobile Money segments.
Data revenue proved to be the primary growth engine, surging by 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, growing by 98.0 per cent to GH¢642 million, while Mobile Money revenue rose by 24.4 per cent to GH¢5.4 billion.
The company’s Earnings Before Interest, Tax, Depreciation and Amortization expanded by 40.6 per cent to GH¢14.3 billion, with the EBITDA margin expanding by 3.1 percentage points to 61.5 per cent. The resulting profit before tax stood at GH¢11.4 billion, representing a 47.0 per cent increase.
The financial statement also detailed that the tax expense for the period was GH¢3.6 billion, up from GH¢2.3 billion in the prior year, reflecting the higher taxable earnings.
Despite this heavy tax burden and the substantial capital expenditure of GH¢3.2 billion, the company’s earnings per share increased by 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 noted that the business also made significant investments in network capacity, including the acquisition of 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.