MTN Group, Africa’s largest telecoms operator, is considering pursuing banking licenses in select markets to expand lending directly from its own balance sheet. The company currently offers loans through bank partnerships. However, with lending emerging as one of its fastest-growing fintech segments, alongside payments and e-commerce, it is now considering expanding its fintech operations further. Company CEO Ralph Mupita said MTN is evaluating banking licenses in markets with large customer bases and substantial mobile wallet deposits. He, however, emphasized that any shift would be gradual and selective rather than company-wide because of the risks associated with balance-sheet lending. Beyond fintech, MTN is also expanding into digital infrastructure. The company is partnering with a UAE-backed investor through Africa Data Hub Holding to build AI-ready data centers in South Africa and Nigeria. The initial phase of the project will seek to provide roughly 150 megawatts of capacity, with further expansion tied to demand.