Scancom PLC, the parent company of MTN Ghana, has reported a remarkable financial performance for the first half of 2025, achieving a 55.8% surge in profit after tax (PAT) to GHS3.6 billion.
This significant leap was part of a broader growth trend, underpinned by an improved macroeconomic environment, strategic execution, and technological innovation. The figures were captured in the company’s half-year financial report, audited by Ernst and Young and signed by CEO Stephen Blewett and CFO Antoinette Kwofie.
The company’s service revenue rose by 40.0% to GHS11.3 billion, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 45.5% to GHS6.6 billion. The EBITDA margin also saw an improvement, rising by 2.3 percentage points to 58.4%. Meanwhile, earnings per share (EPS) increased by 55.6% to GHS0.274, with an interim dividend of GHS0.08 declared, up from GHS0.065 in the same period of 2024.
Subscriber Base and Mobile Money Usage Expand Rapidly
MTN Ghana recorded impressive growth in its customer base. Mobile subscribers increased by 6.5%, reaching 30.2 million, while active data subscribers rose by 11.0% to 18.2 million. The most notable growth came from the mobile money (MoMo) sector, where active users grew by 7.4% to 17.7 million. This increase reflects the company’s strong focus on financial inclusion and the growing popularity of mobile financial services in Ghana.
CEO Stephen Blewett praised the dedication of MTN Ghana’s workforce, noting that the company’s success would not have been possible without their commitment. “It is their collective effort that has enabled us to overcome challenges and seize opportunities in the market. We remain energised and committed to delivering on our market guidance and unlocking further value for our stakeholders,” Blewett stated.
The report also credited Ghana’s improved macroeconomic fundamentals for the company’s stellar performance. Inflationary pressures continued to decline, with the inflation rate for June 2025 falling to 13.7%—the lowest since December 2021. The average inflation for Q2 stood at 17.8%, resulting in an H1 average of 20.4%.
Crucially, the Ghana cedi appreciated significantly, strengthening from GHS15.3/USD in January to GHS10.3/USD in June, according to Bank of Ghana data. This currency stability created a more favorable operating environment, reducing cost pressures and enhancing investor confidence.
Strategic Execution and Technology Drive Revenue Growth
MTN Ghana’s performance in the first half of 2025 was also driven by robust commercial strategies and significant investments in network infrastructure. The company added over 1.8 million new subscribers during the period, bolstered by aggressive subscriber acquisition campaigns and a strategic use of artificial intelligence in customer value management (CVM). These AI-powered tools enhanced user experience and loyalty across various service touchpoints.
In total, the company invested GHS2.7 billion in capital expenditure, focusing on upgrading and expanding network infrastructure. This included the rollout of new and replacement of outdated transmission equipment to support the enhancement of its 4G capabilities. As a result, data traffic surged by 56.1%, a clear indication of the rising demand for high-speed internet services in Ghana.
MTN Ghana’s ability to grow earnings while maintaining a strong EBITDA margin of 58.4% underscores its operational efficiency. The interim dividend payout of GHS0.08 per share reflects the company’s dedication to delivering value to its shareholders.
With an increasingly digital consumer base, a stable macroeconomic environment, and sustained momentum in both fintech and data services, MTN Ghana is well-positioned for further growth. The company’s leadership remains optimistic about the future, pledging to continue unlocking opportunities and expanding digital and financial access across the country.
READ ALSO: 24-Hour Economy Gains Momentum: Deloitte Tips Ghana to Hit 2025 GDP Milestone
