MTN Ghana has reported a robust performance for the first half of 2024, with a significant 31.2% year-on-year increase in service revenue, reaching GHS8.1 billion. This marks a notable rise from the GHS6.15 billion in revenue generated during the same period in 2023.
During the first half of 2024, MTN Ghana experienced growth in its customer base, with mobile subscribers climbing to 28.4 million, including an influx of 0.6 million new customers in the first quarter alone. The number of active data subscribers also saw an increase, reaching 16.4 million. Additionally, the active user base for Mobile Money (MoMo) services expanded by 16.2%, totaling 16.5 million users. The revenue from MoMo services witnessed a substantial increase of 44.8%, while digital revenue, which includes services like video streaming, gaming, and ring-back tones, surged by 59.4%.
MTN Ghana’s financial contributions to the state were substantial, with the telco paying GHS 3.9 billion in direct and indirect taxes during the first half of the year. These payments, along with other expenses, constituted 52.0% of the company’s total revenue of GHS 8.11 billion. The company also made significant investments amounting to GHS 2.8 billion in enhancing network quality, coverage, capacity, and IT systems.
The CEO of MTN Ghana, Stephen Blewett, disclosed that the company is nearing the conclusion of discussions for a long-term agreement with Telecel. Blewett stated, “We intend to actively pursue the national roaming agenda in collaboration with Telecel to establish a long-term infrastructure sharing agreement. We will continue to enhance our leading connectivity asset base and service offerings provided to our customers.”
MTN Ghana also reported considerable progress in increasing local ownership of Scancom PLC (MTN Ghana) and MobileMoney Limited. By the end of the second quarter of 2024, local ownership of Scancom PLC had reached 27.9%. This achievement was recognized by the regulator, confirming that Scancom PLC had met the 25.0% localisation requirement for its 4G license.
Blewett further emphasized the company’s commitment to increasing local participation, saying, “We are committed to further localising Scancom PLC and MobileMoney Limited, and we will continue to work closely with regulators and other relevant stakeholders towards achieving our goal.”
Ghana is on the cusp of a technological leap with the planned launch of 5G mobile technology in September 2024. The government, in partnership with Radisys Corporation, is working towards rolling out affordable 5G mobile broadband services across the nation by the end of the year. This initiative is expected to provide a substantial boost to internet connectivity, offering high-speed and enhanced network performance to consumers and businesses throughout Ghana.
In the telecommunications sector, MTN Ghana has been designated as a Significant Market Power (SMP), a classification that reflects its dominant position in the market. In July 2024, the National Communications Authority (NCA) addressed public concerns regarding the high cost of internet data by affirming that the SMP classification for MTN Ghana is consistent with its responsibility to promote fair competition and safeguard consumer interests. The NCA’s stance indicates a commitment to ensuring that the market operates in a manner that is both competitive and consumer-friendly, with the aim of fostering an environment that benefits all stakeholders in the telecommunications ecosystem.
