MTN Ghana has reaffirmed its commitment to investing in the development of its platforms and enhancing its network and services to create value for stakeholders. This pledge is part of the company’s Ambition 2025 strategy, which focuses on driving expense efficiencies, maintaining liquidity, and strengthening its balance sheet.
The telecom giant reported a profit of GH¢3.98 billion in 2023, representing a 39.4% growth compared to the previous year. The growth in profit was attributed to a 34.6% year-on-year increase in service revenue, driven by voice, data, and Mobile Money services.
Despite a 6.3% year-on-year decrease in subscriber base due to the national SIM re-registration exercise, MTN Ghana’s commitment to providing high-quality services helped attract new customers and retain existing ones. The company invested GH¢3.3 billion in core capital expenditure to modernize its infrastructure, enhance IT systems, and expand network coverage across the country.
Voice revenue recorded a 9.0% year-on-year growth to GH¢3.6 billion, supported by customer value management initiatives and improvements in network coverage and service quality. Data revenue also saw significant growth, increasing by 50.9% year-on-year to GH¢5.8 billion, driven by higher data consumption per active user per month and data pricing initiatives.
Mobile Money revenue experienced a strong year-on-year growth of 48.8% to GH¢2.9 billion, supported by partnerships with financial institutions, agents, and merchants to expand the mobile money ecosystem.
MTN Ghana’s performance in 2023 reflects its strategic focus on innovation, customer experience, and network expansion to drive revenue growth and deliver value to its stakeholders.
