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# MTN's fintech transaction volume in Nigeria increased to 17.6 billion in 2023
- URL: https://www.techloy.com/mtns-fintech-transaction-volume-nigeria-increased-to-17-6-billion-in-2023/
- Published: 2024-03-25T12:44:47.000Z
- Updated: 2024-03-25T12:44:47.000Z
- Description: MTN achieves a resilient performance in its fiscal report for 2023 despite a major profit loss in its biggest market, Nigeria.
- Author: Henry Chikwem
- Tags: / News, MTN, Telecom, Business, / Fintech, Tech in Nigeria

African telecoms giant, MTN has reported a resilient underlying operating performance for 2023 amid sustained high demand for data and fintech services. It declared a total dividend of 330 cents per share despite challenging macroeconomic conditions in several key markets.

According to its fiscal [report](https://www.mtn.com/mtn-group-reports-resilient-operating-performance-in-2023/) for 2023, released this morning, MTN said that the volume of its fintech transactions in Nigeria increased by around a third to 17.6 billion, with its transaction value going up to US$272 billion.

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The company also posted an increase in the number of its active data subscribers by more than 9% to 150 million (half the total subscriber base) and active Mobile Money (MoMo) users by 5% to 72.5 million.

The company attributed these developments to the driving growth of advanced services in payments, bank tech, and remittance solutions.

These positive performances follow a decline in profit by about [79% to $215.5 million](https://www.arise.tv/naira-devaluation-mtn-nigeria-declares-n137-billion-loss-in-2023/) caused by inflation and the devaluation of the naira in its largest market, Nigeria, and ongoing political tensions in some markets, most notably in Sudan.