MTN Ghana has reported significant growth in subscribers and revenue despite economic challenges. The company achieved a 6.5% increase in mobile subscribers, with notable rises in data and MoMo users. CEO Stephen Blewett emphasized the firm’s commitment to financial inclusion and strategic partnerships. The report also highlights achievements in localization and expresses cautious optimism for future economic conditions.
MTN Ghana has made financial inclusion a cornerstone of its growth strategy, enhancing platforms such as myMTN and Mobile Money (MoMo) to improve service delivery to its customers. Stephen Blewett, the CEO of MTN Ghana, emphasized, “Our commitment to forging partnerships with financial institutions, agents, and merchants is crucial for developing the MoMo ecosystem and further innovation in MoMo services.”
In its financial report for the year ending December 31, 2024, MTN Ghana revealed a 6.5% rise in its mobile subscriber count, totaling 28.5 million. Active data subscribers increased by 13.7% to 17.5 million, while active MoMo users grew by 12.8% to 17.2 million. Service revenue soared by 34.5% to GHS17.9 billion, and EBITDA increased by 31.3% to GHS10.2 billion.
Reflecting on MTN Ghana’s progress, Blewett stated, “As we review our progress throughout 2024, I am delighted to announce that our commitment to excellence in commercial operations and service delivery has led to impressive results.” He attributed these advancements to a focus on customer experience and service integration, leading to an influx of 1.7 million new subscribers seeking reliable connectivity.
Despite the ongoing macroeconomic challenges, Blewett remarked, “Our strategic initiatives and the steadfast dedication of our team have driven substantial growth in our MoMo, data, and digital services.” Furthermore, he highlighted a successful achievement in localizing MTN Ghana’s operations, exceeding the regulatory requirement of 25% localization by reaching 30% localization for Scancom PLC.
Looking ahead, Blewett expressed “cautious optimism” regarding the macroeconomic situation in Ghana for 2025 and beyond, while acknowledging ongoing risks such as inflation and exchange rate fluctuations. He cautioned that these factors could impede economic recovery and affect consumer spending, which may complicate the operating environment for businesses.
In conclusion, MTN Ghana has exhibited remarkable growth in subscriber numbers and financial performance, strengthened by its commitment to service delivery and customer satisfaction. Despite significant economic challenges, the strategic focus on financial inclusion and localization has positioned the company positively for continued success in the future.
MTN Ghana has successfully navigated economic challenges while achieving significant subscriber and revenue growth, showcasing the effectiveness of its strategies centered on financial inclusion and customer service. The company’s optimistic outlook, coupled with its proactive stance on localization and strategic partnerships, positions it favorably for future developments despite existing risks in the broader economy.
Original Source: broadcastmediaafrica.com
