- The macroeconomic environment in Ghana remained challenging in H1 2023, with high inflation rates averaging 46.2%.
- Despite this, the Ghana cedi relatively stabilized against the US$ helped by lower international crude oil prices and a US$600 million IMF balance support to Ghana.
- MTN Ghana continued with its Ambition 2025 strategy, focusing on revenue growth and cost efficiencies.
- The company contributed to social and economic development through initiatives like the construction of a 60-bed maternity and neonatal centre and a STEM robotics lab, expected to be completed in H2 2023.
- In terms of taxation, MTN Ghana contributed GHS2.7 billion in taxes and GHS228 million in levies and other payments to Governmental agencies in H1 2023.
- The company’s partnership with AirtelTigo and Vodafone Ghana aimed at achieving universal access and accelerating digitalization is in progress.
- MTN Ghana reported a YoY growth in service revenue by 32.3%, supported by improvements in network capacity, IT systems, and service delivery.
- GHS2.2 billion was invested in capex for system enhancement, inclusive of spectrum licenses acquisition and infrastructure deployment.
- Voice, data, and MoMo revenues all showed significant growth while digital revenue declined as the company executed portfolio rationalization initiatives.
- EBITDA increased by 29.4%, totaling GHS3.5 billion with an EBITDA margin of 56.1%.
- Following national regulation, the telecom company disconnected 5.4 million unregistered SIMs, resulting in a decline in the number of subscribers.
- In line with localization, MTN Ghana achieved 25% localization of Scancom PLC by Q1 2023, which fell to 23.2% by H1 2023 due to shareholders opting for Scrip dividends.
About MTN Ghana (MTN.gh)
MTN Ghana is the leading provider of mobile telecommunications services in Ghana. The Company has over 17.83 million subscribers with a market share of approximately 55.09% as at December 2017. MTN Ghana, in line with its vision and mission, continues to lead the delivery of a bold new Digital World to customers and to make their lives a whole lot brighter. MTN Ghana is listed on the Ghana Stock Exchange
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