There is a piece of good news for MTN Ghana as they record a massive profit margin.
MTN Ghana, the biggest telecommunication network in Ghana, had a successful year in 2023.
Following the release of its audited 2023 Financial Report, the company announced a profit of GH¢3.98 billion cedis and declared a dividend of GH¢0.175 per share.
MTN Ghana’s service revenue grew by 34.6% year-on-year, driven by strong growth in voice, data, and Mobile Money. This growth translated to a 39.4% year-on-year increase in profit after tax, reaching GH¢4.0 billion.
Also, MTN Ghana maintained a healthy balance sheet with GHS 225 million in outstanding principal debt and paid GH¢5.9 billion in direct and indirect taxes.
The company invested GH¢3.3 billion in core capital expenditure, expanding its network and improving service quality. This investment resulted in the deployment of 350 new 2G, 353 new 3G, and 350 new 4G sites, achieving an impressive 99.3% 4G population coverage.
MTN Ghana has also revealed how committed it is to its social responsibility efforts.
The MTN Ghana Foundation invested GHS 30.3 million in initiatives supporting healthcare, education, and economic growth. The company is also dedicated to environmental sustainability, aiming to achieve net-zero carbon emissions by 2040, and fostering diversity and inclusion within its workforce, to reach 50% female representation by 2030.
In a few months, there will be a change in leadership of MTN Ghana as Selorm Adadevoh, the current CEO, will be moving to the role of MTN Group Chief Commercial Officer while Stephen Blewett will take over as the new MTN Ghana CEO, effective April 1, 2024.
