MTN Ghana says it is currently finalising the required formalities and payment obligations associated with the acquisition of a 5G license.

According to the telecom giant, the US$202 million spectrum acquisition cost is already reflected in its free cash flow outlook.

Therefore, the payment for the license acquisition does not change its 2026 free cash flow and dividend outlook.

“We believe this investment underscores our commitment to sustaining network quality and building the capacity required to support Ghana’s growing digital connectivity needs”, it disclosed in its quarter 3 2026 financial report.

During quarter 3, MTN achieved a significant milestone with the notification from the National Communications Authority (NCA) of the award of spectrum in the 700 MHz and 3 GHz bands for 5G and mobile broadband services. The award comprises 2x20 MHz in the 700 MHz band and 1x150 MHz in the 3 GHz band, with licenses valid for 15 years.

MTN said the additional spectrum will complement its existing spectrum assets and strengthen

its ability to meet growing demand for high-speed connectivity and data-centric services across Ghana.

“Following the issuance of the licenses, we will deploy the newly awarded spectrum to support the rollout of 5G services, enhance service quality and customer experience as data usage grows, and further strengthen our network capabilities. The additional capacity will also strengthen our Home broadband proposition, allowing us to extend high-speed connectivity to more households and broaden our addressable home market”, it added.

MTN concluded by appreciating the continued support of its shareholders, regulators and other stakeholders as it undertakes this important investment in Ghana’s telecommunications infrastructure.

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Our 5G investment shows our commitment to network quality and Ghana's growing digital connectivity – MTN

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