By Stanley Senya
Accra, March 27, GNA – MTN Ghana has posted a 34.5 per cent growth in service revenue, driven by increased mobile data usage, expanded 4G and 5G coverage, and a rise in mobile money transactions.
Presenting the company’s 2024 Annual Report at the 7th Annual General Meeting, Mr Stephen Blewett, Chief Executive Officer (CEO) highlighted the strategic initiatives that propelled MTN Ghana’s performance.
He said; “our year-on-year service revenue increase of 34.5 per cent exceeded expectations, thanks to our expanding data services, Mobile Money (MoMo) growth, and continuous digital innovation.”
“Our aggressive investment in network expansion, particularly in 4G technology, has significantly increased customer acquisition and engagement,” Mr Blewett added.
MTN Ghana’s data revenue surged by 53.8 percent year-on-year to GHS9.0 billion, fueled by improved network infrastructure and growing customer demand. Meanwhile, Mobile Money revenue recorded a 54.4% increase, reaching GHS4.4 billion, reflecting the platform’s integral role in Ghana’s digital financial ecosystem.
Despite its strong financial results, MTN Ghana remained cautious about the macroeconomic landscape.
The CEO acknowledged that inflationary pressures and currency depreciation could present hurdles in 2025.
“We anticipate continued economic challenges, including inflationary risks and currency fluctuations, which may impact consumer spending and economic growth. However, we remain committed to cost efficiency and strategic investments to sustain our growth trajectory,” he affirmed.
Mr Ishmael Yamson, Board Chairman of MTN Ghana announced a final dividend of 24 pesewas per share, payable on April 16, 2025, in recognition of the company’s robust financial performance.
“Given our strong results, the Board of Directors is pleased to recommend a final dividend of 24 pesewas per share for shareholder approval,” Mr Yamson said.
The total dividend for the 2024 financial year stands at 30.5 pesewas per share, incorporating a prior interim payout of 6.5 pesewas per share in September 2024.
This amounts to a GHS4.0 billion dividend payout, 80 per cent of MTN Ghana’s GHS5.0 billion profit after tax representing a substantial 35.6% increase in dividend per share from 2023.
MTN Ghana assured customers of focusing on sustaining its growth through strategic digital investments, enhanced financial services, and continued network expansion.
GNA
GRB