MTN Ghana, one of the leading telecommunications brands in Ghana has made it public that it will invest heavily in customer-centric innovation and as well increase capital expenditure to optimise network performance which will drive growth this year and beyond.
With the difficulty initiated by the COVID-19 pandemic being felt across all sectors of the economy, the Chief Executive Officer of the company Selorm Adadevoh said the company was monitoring the situation and will explore multiple circumstances to mitigate the impact of the virus on the business.
“To maintain our relevance and to keep up with the dynamism of the telecommunications industry, we will continue to innovate, create and build meaningful relationships that will improve customer experience and brighten lives. Our focus on the customer is paramount and drives continuous innovation as we transition from a traditional mobile telecommunications operator to an emerging digital operator,” he said in the 2019 annual report of the company released to the Ghana Stock Exchange.
“We will continue to drive down our operational cost while efficiently investing in capital expenditure to optimise network performance,” he added.
MTN Ghana increased its profit for the 2019 business year by 33.6 per cent, recording an impressive GH¢1.01bn in profit after tax. Underpinning this performance, the company attributed it to the strong service revenue growth, coupled with the successful execution of the company’s cost-efficient strategies.
Additionally, the company’s service revenue increased by 22.8 per cent, which has been attributed to growth in revenue from voice, data and mobile money transactions. (MoMo).
For voice revenue, it went up by 19.4 per cent, driven by an 11.2 per cent increase in the number of active subscribers, the success of various customer value management (CVM) initiatives, and the continuous improvements on the company’s network.
On the aspect of data revenue, the company saw growth by 32.5 per cent, owing to a 26 per cent growth in active data users, growth in the number of smartphones on the network, and an increase in data usage.
Mobile Money (MoMo) revenue also continued to grow strongly, increasing by 28 per cent year-on-year to GH¢0.96 billion and contributing 18.6 per cent of service revenue.
The board of the company has recommended a final dividend of 4 pesewas per share, bringing the total dividend for the 2019 financial year to 6 pesewas per share, which is a 20 per cent increase over 2018.
