Mobile telecommunications industry giant, MTN Ghana, has reaffirmed its commitment to accelerating socio-economic development in Ghana through significant social investments and honoring its regulatory obligations.
MTN Ghana, in the first half of 2022, contributed 29.6% of its total revenue, amounting to approximately GHS1.4 billion in direct and indirect taxes, and payments to governmental Agencies. This figure was disclosed in MTN Ghana’s half year Financial Results for 2022.
The Chief Executive Officer of MTN Ghana, Selorm Adadevoh, underscored in a statement that the company will continue to contribute to Ghana’s socio-economic developments using innovative digital technologies.
“MTN Ghana is poised to bolster recovery and deliver on its ambition 2025 strategy boosting socio-economic growth through innovative digital technologies. Our collective socio-economic development remains of utmost priority to us as a business and we will continue to play our part in fostering sustainable growth by building strategic partnerships and creating shared value for all”.
Selorm Adadevoh
Despite a challenging macroeconomic environment, characterized by rising inflation, increased fuel cost, pressure on the exchange rate as well as other external challenges, MTN Ghana demonstrated resilience, posting a pre-tax profit of GHS 2.7 billion.
Other key performance indicators
MTN Ghana further disclosed that mobile Voice subscription increased by 11.6% to 27.8 million while active data subscribers increased by 15.1% to 13.1 million in the first half of 2022. Likewise, Active Mobile Money (MoMo) users improved by 11.0% to 11.7 million while service revenue grew by 28.9% to GHS4.7 billion in the period under review.
In addition to MTN MoMo’s over seventeen million registered subscribers, it also works with 19 partner banks, PSPs and more than 240,000 agents across the country. Between 2016 and 2020, a sum of GHS 322million cedis was paid as Interest to over 12 million customers in the country.
The statement further indicated that Key infrastructure developments carried out by MTN Ghana Foundation as part of its CSR activities in the first half of the year included the commissioning of a library for the people of Denkyira Buabenso, continuation of works on the STEM Robotics Lab for Mamfe Girls’ School and the 60-bed neonatal centre for the Keta Municipal Hospital.
MTN Ghana assured that although the outlook for the economy remains uncertain and volatile, it remains committed to executing its Ambition 2025 Strategy to drive growth and efficiencies in doing business.
MTN Ghana is the market leader in the mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay As You Go, Pay Monthly and Mobile Financial Services.
The company is part of the MTN Group which is a leading emerging market leader with a clear vision to lead the delivery of a bold new digital world to its cherished customers across the globe.
The company is inspired by its belief that everyone deserves the benefits of a modern connected life. Scancom PLC is listed on the Ghana Stock Exchange and its strategy is Ambition 2025: Leading digital solutions for Africa’s progress.
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