African Telecoms Are Becoming Financial Platforms

Telecom companies across Africa are moving beyond calls and data. Their mobile-money businesses are expanding into payments, lending and other financial services, turning telecom networks into increasingly important financial platforms.

The shift is being driven by a simple advantage: telecom operators already have millions of customers and the digital infrastructure to reach them.

Mobile Money Has Become Much Bigger

The scale of the opportunity is significant. According to the GSMA’s State of the Industry Report on Mobile Money 2026, African mobile-money services processed $1.4 trillion in transactions in 2025, up 27% from the previous year. Africa also had 1.2 billion registered accounts and 347 million active 30-day accounts.

That growth is pushing operators to look beyond basic money transfers.

Mobile-money platforms are increasingly supporting payments, merchant transactions, savings and credit, bringing services that were traditionally associated with banks directly to mobile phones.

Telecoms Want a Bigger Role in Finance

The direction is becoming clearer among major operators.

On August 25, 2026, Reuters reported that MTN Group is considering banking licences in selected African markets as it explores lending directly to customers rather than relying entirely on banking partners. The company says lending is becoming one of the fastest-growing parts of its mobile-money and fintech business.

Airtel Africa is also pushing its mobile-money business toward becoming a larger standalone fintech operation, with the company selecting London as the preferred venue for a potential Airtel Money listing.

These moves show how the boundary between telecoms, fintech and traditional banking is becoming less clear.

Why This Matters for Africa

For customers, the biggest benefit could be easier access to financial services.

A person who already has a mobile phone and wallet may not need a traditional bank branch to make payments or access certain financial products.

For telecom operators, financial services also create new revenue opportunities beyond voice and connectivity.

The trend is unlikely to stop at mobile money. As operators add lending, merchant payments and other digital services, they are increasingly positioning themselves as financial platforms rather than simply telecommunications companies.

Source: Reuters - MTN eyes banking licences as it pushes deeper into lending

Additional source: GSMA - State of the Industry Report on Mobile Money 2026