MTN Ghana is the leader in the Ghanaian telecom market with 65% market share, according to the latest statistics from the National Communications Authority (NCA). By the end of fiscal year 2021, the company had recorded revenue of approximately $604.5 million.

Ghanaian telecom operator Scancom Plc (MTN Ghana) recorded total revenue of 9.91 billion cedis ($776.5 million) at the end of the 2022 financial year, according to the company’s latest annual report. This figure shows a 28.4% increase from the 7.72 billion cedis earned in 2021. Service revenue increased by 28.3% to GHS 9.88 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 30.9% to GHS 5.6 billion.

The company attributes its performance to driving operational efficiencies, cost discipline and creating shared value for its stakeholders despite a challenging macro environment. The year was notably marked by rising inflation, rising from 12.7% in December 2021 to 54.1% in December 2022, as well as the depreciation of the cedi which lost 42.8% against the US dollar. Added to this is the increased cost of fuel and amenities.

During the year, MTN Ghana invested GHS 2.1 billion in upgrading infrastructure, improving IT systems and expanding network capacity and coverage across the country. The company says it has deployed 400 2G sites, 400 3G sites and 1,142 4G sites. It also upgraded 820 existing 4G sites, bringing 4G population coverage to 99.3%.

These investments have enabled the operator to increase its subscriber base. The number of mobile phone subscribers increased by 12.8% to 28.6 million. Active data subscribers increased 8.3% to 13.5 million. The number of active Mobile Money (MoMo) users increased by 15.0% to 12.7 million.

For 2023, MTN Ghana intends to continue implementing the Ambition 2025 strategy and maintain its investment commitment to drive continued growth. “  We are confident in the medium to long term prospects of the Ghanaian economy and as such we are committed to continuing to invest effectively in infrastructure and improving the capacity and quality of connectivity and other services. related for our customers  ,” the company said.

Source: Agence Ecofin