MTN Ghana has stated that it will continue to support employees, customers and communities as it delivers on its Ambition 2025 strategy in order to capture long-term growth opportunities and create sustainable value for all stakeholders.
This was contained in the company’s Q3 performance report.
MTN Ghana has witnessed a sustained growth in data, mobile money and digital offerings/solutions resulting in service revenue growth of 25.4% year-on-year.
At the latest Ghana Information Technology and Telecoms Awards (GITTA), Communications and Digitalisation Minister, Ursula Owusu-Ekuful disclosed that in the third quarter of this year alone, MTN recorded over 1.085 billion mobile money transactions, which was more than 85 per cent of the total for the period.
This shows that the significant investment of over a billion Ghana cedi made by the MTN over the period, is yielding results.
The report noted that MTN Ghana has invested total CAPEX of GH¢1.060 billion, to, among other things, rollout of 959 new 4G sites and to modernize 1,543 existing 4G sites, resulting in an increase in 4G population coverage by 4.7 to 84.7%.
“Our active subscriber base recovered from the previous quarter to record an increase of 0.4 million to 25.2 million. This was supported by our network investments, digital offerings and an improvement in quality of service,” MTN Ghana CEO, Selorm Adadevoh stated.
He however noted that the contribution of voice to revenue decreased by 7.9% growing at 2% year-on-year, saying that the phenomenon was impacted by shifts in customer behavior.
“The sustained growth we have seen in a difficult year is a clear testament that our investments into the business and infrastructure is paying off and we have remained focused on delivering our Ambition 2025 strategy to ensure we give everyone the benefits of a modern connected life everywhere we go,” the CEO said.
MTN’s Ambition 2025 strategy is anchored on building the largest and most valuable platform business with a clear focus on Africa. This will rest on a scale connectivity and infrastructure business, making use of both mobile and fixed access networks across the consumer, enterprise and wholesale segments
On the regulatory front, MTN Ghana continues to make progress in fulfilling,. by the end of 2021, all agreed localization requirements of 25% for Scancom PLC and 30% for MobileMoney Limited.
Looking forward, MTN Ghana will remain focused on executing its strategy and unlocking value for all its stakeholders. The Ambition 2025 strategy is underpinned by five (5) growth platforms – MoMo (FinTech Solutions), Ayoba (Digital Solutions), Enterprise Services, Network (Network as a Service) and Chenosis (API Market Place).