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- MTN Group said its BankTech disbursed astir $592 cardinal successful loans successful the archetypal 4th of 2025
- The telecommunication elephantine disclosed this successful its fiscal statement, saying the fig is the highest since it launched the level successful 2023
- BankTech is the MTN’s strategical propulsion into the BaaS sector, offering APIs to alteration fintech startups, businesses, and integer platforms
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
MTN Mobile Money Unit, BankTech, said it disbursed astir $592 cardinal successful loans successful the archetypal 4th of 2025.
The improvement is contained successful the group’s fiscal statement, which is the highest since BankTech launched successful August 2023.
Source: Getty Images
MTN’s BankTech offers APIs to fintech firms
The emergence shows the increasing request for microloans and the rising relation telcos play successful Africa’s recognition ecosystem.
The MTN Group’s integer lending limb is the company’s strategical propulsion into the BaaS sector, offering APIs to alteration fintech startups, businesses, and integer platforms to integrate fiscal services, specified arsenic lending, savings, and integer security into their ecosystem.
TechCabal reports that loans are issued to individuals and businesses via the BankTech platform.
The lending institution shows the increasing relation of telcos successful driving fiscal access.
MTN aims to vie successful the integer lending space
Before MTN joined the integer lending ecosystem, platforms specified arsenic Safaricom’s M-Shawari, KCB M-Pesa, Airtel Mone Loan successful East Africa and Vodacom’s M-Pesa successful South Africa were already starring the complaint for mobile-based user lending connected the continent.
These platforms collectively correspond a user lending marketplace estimated astatine $247 million, aiming to span Africa’s $782 cardinal recognition gap.
The MTN company’s maturation shows a displacement successful user confidence, reflecting expanding users who clasp telecom-led fiscal work solutions arsenic credible alternatives to accepted banks.
Top show records successful 2024
The level began gaining traction successful 2024 aft disbursing $371.7 cardinal successful loans successful the archetypal quarter, followed by $359.9 cardinal successful the 2nd quarter, $461.5 cardinal successful the 3rd quarter, and $546.8 cardinal successful the 4th quarter.
The maturation led to a grounds $731.6 cardinal successful loans disbursed successful the archetypal 4th of 2025.
MTN’s fiscal reports uncover that the surge was driven by beardown show successful Ghana, Uganda, and Cameroon, wherever MTN’s fiscal exertion services are rapidly increasing and integer lending is becoming much entrenched.
MTN’s BankTech banned successful Nigeria
Nigeria has yet to enactment successful the lending maturation contempt being MTN’s largest marketplace by subscriber base.
MTN Nigeria operates nether a Payment Service Bank (PSB) license, limiting it to the proviso of basal fiscal services specified arsenic deposits, transfers, and mobile wallets.
The Central Bank of Nigeria (CBN) banned PSBs from offering recognition products, limiting MTN’s lending ambition successful Nigeria.
The improvement means MTN cannot run its integer lending concern successful Nigeria, contempt a surge successful request for credit.
MTN’s Xtratime’s adoption rises
However, MTN operates Xtratime, an airtime-based beforehand service, allowing subscribers to get airtime and repay connected their adjacent charge.
The work allows low-income earners and unbanked populations to entree short-term value.
According to reports, Xtratime helped MTN make monolithic profits successful the archetypal 4th of 2025.
Source: UGC
The institution reported a 57.9% yearly summation successful fintech earnings, hitting N36.1 billion, driven by the maturation of Xtratime.
MTN sends a connection connected web fluctuations
Legit.ng earlier reported that respective MTN subscribers successful parts of experienced network glitches which affected their quality to browse the net contempt having progressive information plans.
Social media platforms were flooded with complaints from affected subscribers who expressed dissatisfaction implicit the unexpected work interruption.
Many of the affected subscribers took to societal media to respond to the web glitches.
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Source: Legit.ng
