MTN Ghana set to Bolster Economic Growth through Strategic Partnerships

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 said, “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”.

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. Mobile Voice subscription increased by 11.6% to 27.8 million while active data subscribers increased by 15.1% to 13.1 million. Active Mobile Money (MoMo) users improved by 11.0% to 11.7 million and service revenue grew by  28.9% to GHS4.7 billion.

Key infrastructure developments carried out by MTN Ghana Foundation as part of its CSI 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.

Although the outlook for the economy remains uncertain and volatile, MTN remains committed to executing its Ambition 2025 Strategy to drive growth and efficiencies in doing business.