By Stanley Senya
Accra, March 30, GNA – MTN Ghana reported a significant increase of 34.5 percent in their service revenue. This growth was fueled by higher mobile data consumption, an extended reach of 4G and 5G networks, as well as a surge in mobile money activities.
At the 7th Annual General Meeting, CEO Mr. Stephen Blewett unveiled MTN Ghana’s 2024 Annual Report, underscoring the key strategies that drove the company’s success.
He stated, “Our service revenue rose by 34.5 percent compared to the previous year, surpassing projections. This achievement can be attributed to the expansion of our data services, the success of Mobile Money (MoMo), and ongoing digital innovations.”
“By aggressively investing in our network growth, especially in 4G technology, we have notably boosted customer acquisition and engagement,” Mr Blewett noted.
MTN Ghana experienced a significant rise of 53.8 percent year-over-year in their data revenue, amounting to GHS9.0 billion, thanks to enhanced network facilities and an increasing number of customers. Additionally, Mobile Money revenue saw a growth of 54.4%, totaling GHS4.4 billion, highlighting the essential part this service plays within Ghana’s evolving digital finance landscape.
In spite of its robust financial performance, MTN Ghana continued to approach the broader economic environment with caution.
The CEO admitted that inflationary pressures and currency devaluation might pose challenges in 2025.
“We expect ongoing economic hurdles such as inflationary pressures and exchange rate volatility, which could affect consumer expenditure and overall economic expansion. Nonetheless, we are dedicated to maintaining cost efficiencies and making strategic investments to uphold our growth path,” he stated firmly.
Mr. Ishmael Yamson, the Chair of the Board at MTN Ghana, declared a final dividend of 24 pesewas per share, scheduled for payment on April 16, 2025, acknowledging the firm’s strong financial standing.
Considering our robust performance, Mr. Yamson announced that the Board of Directors has approved recommending a final dividend of 24 pesewas per share for shareholder approval.
The aggregate dividend for the fiscal year 2024 amounts to 30.5 pesewas per share, which includes an earlier interim distribution of 6.5 pesewas per share back in September 2024.
This equates to a dividend payout of GH₵4.0 billion, which constitutes 80 percent of MTN Ghana’s GH₵5.0 billion post-tax profit, indicating a significant 35.6% rise in dividends per share compared to 2023.
MTN Ghana committed to maintaining its progress by investing in digital strategies, improving financial services, and expanding its network further.
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