Chief Executive Officer of MTN Ghana, Selorm Adadevoh has announced that MTN Ghana is transitioning from a traditional telecommunications company to an emerging digital operator.
He made this announcement after Board Chairman for Scancom PLC Mr. Ishmael Yamson shared details of the financial performance of the company for 2019 with shareholders at the 2nd Annual General Meeting streamed live from MTN House to a virtual audience of over 7,000.
He said, “2019 marked the ‘Year of the customer’ for MTN Ghana and in 2020 we are building on that foundation as we transition from a traditional mobile telecommunications operator to an emerging digital operator. In line with our transition journey, MTN Ghana has declared 2020 as the ‘Year of the Customer: The Digital Experience’ with a focus on digitalization as a tool to enhance the customer experience as well as create value for our shareholders”.
MTN is set to deliver on this digital agenda based on solid investments it has made in technology and network infrastructure expansion projects undertaken over the years. For 2020, an amount of $114.1 million is being invested into the network to facilitate the rollout of 300 LTE (4G) sites; an upgrade of 737 3G sites, and 450 2G sites across the country. These investments will make significant contributions to enable individuals and businesses in both the rural and urban parts of Ghana to enjoy the best experience and also enjoy the benefits of a modern connected lifestyle.
“Beyond the enhancement of network for the best digital experience, MTN continues to brighten the lives of customers and the communities in which we operate with social projects as our contribution to National Development. Our recent donation of GHC5million Cedis worth of medical supplies to support the fight against COVID-19 adds to the 149 projects undertaken in Health, Education, and Economic Empowerment projects over the years”, Mr. Adadevoh added.
He expressed optimism about the continuous growth going into the future considering the opportunities identified in Data and Mobile Financial Services. He concluded that with a strong brand presence and positive reputation, MTN will continue to attract the best talent and partners to drive the business and its profitability.
The Board Chairman, Dr. Ishmael Yamson, indicated that MTN delivered a strong profit after tax, the performance by the business was driven by a sterling growth in Voice, Data, and MoMo services.
At the end of the proceedings at the AGM, a final dividend of GHC. 4 pesewas for 2019 financial year was declared and will be paid on 28th August 2020 to shareholders registered in the books of Scancom Plc at the close of business on the qualifying date on Thursday, 30 April 2020. All shareholders can look forward to the payment of dividends.
The Annual General Meeting was attended by the Board of Directors of the company, Vice President of MTN Southern Eastern Africa and Ghana region (SEAGHA), Mr. Ebenezer Asante, MTN Executives, President of the Shareholder Association of Ghana and some Institutional Shareholders.
MTN Ghana listed on the Ghana Stock Exchange (GSE) on 5 September 2018 with the largest number of Ghanaian shareholding of any listed company on the GSE at 127,826. By raising GHS 1,146,589,464.75 from 128,152 applicants the Offer makes history as the largest primary share offer in the history of the Ghana Stock Exchange and enables many Ghanaians from all walks of life to own a share in one of Ghana’s largest, most visible and well-respected companies.
Scancom Ltd (MTN Ghana) was incorporated in 1994 as a private limited liability company. Pursuant to its Initial Public Offer (IPO), the regulations of Scancom Ltd were amended in 2016 to become a public company. Since it launched operations, MTN has invested billions of dollars into network expansion and technology advancements to deliver world-class telecommunications and digital services to its customers.