MTN not seeking banking license for now – CEO Ralph Mupita
MTN Group Chief Executive Officer, Ralph Mupita, has downplayed speculation about the telecom giant’s entry into mainstream banking, stressing that the company’s current focus is on financial inclusion, not pursuing a commercial banking license.
Speaking at the Bright Conversations series in Accra, Mr. Mupita said MTN’s immediate priority is to scale up its Mobile Money platform to serve millions more across Africa, even though the possibility of banking remains open in the long term.
“Bank is just a license and a license is creating capabilities and adding the capital to do certain things. So we don’t see ourselves as a bank today — but let us not exclude that as a possibility in the future,” he explained.
He added that MTN sees greater value in bridging Africa’s financial access gap, noting that millions remain unbanked or underserved.
“Well, I think it is more useful for us to think about the role we have to play in driving financial inclusion. We are not even 50 percent through. There’s a lot more to play out even in the first half — it is not finished. But there may be a time when we think we may need different capabilities and a license. That is not occupying our minds right now,” he said.
His remarks come as MTN Group, Africa’s largest telecom operator, posted a 23.3% year-on-year rise in service revenue to $5.7 billion in the first half of 2025.
The Group CEO also praised the company’s strong performance in Ghana, commending staff and assuring customers of uncompromised service delivery.
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