Pulse.com.gh logo
Go


Finance After a year of not so impressive returns MTN Ghana has finally recorded a revenue of $769 million in 2017

  • Published: , Refreshed:

This strong performance affirms MTN as the most profitable telephony operator in the country.

Mobile network operator, MTN Ghana, has posted a 23.3% increase in revenue in 2017 compared to 2016.

The company’s total revenue soared to GH₵3.4 billion in 2017, as against the GH₵2.77 billion revenue recorded in 2016.

GH₵9.3m daily revenue

The GH₵3.4 billion revenue divided by 365 days in the year translates into GH₵9.3m (GH₵9,315,068.49) daily revenue in 2017.

This strong performance affirms MTN as the most profitable telephony operator in the country.

Speaking at a media forum to present the company’s financial performance, Vice-President for Southern and East Africa and Chief Executive Officer (CEO) of MTN Ghana, Ebenezer Asante-Twum announced the company made a profit of GH₵238 million last year.

15.7 million subscriber base

MTN continued to benefit from a positive macro‐economic environment, and closed the year with a subscriber base of 15.7 million, following the internal review of subscriber definitions.

Focused value propositions and improving NPS supported the good subscriber growth.

Strong growth in revenue, up by 23.3%, was underpinned by data and digital revenue growth.

Data revenue increased by 50.6%

Data revenue increased by 50.6%, supported by the re‐pricing that was implemented in the second half of 2017.

6.5 Million active data subscribers

The business reported active data subscribers of 6.5 million.

Active Mobile Money subscribers hit 7.1 million

The number of active Mobile Money (MoMo) subscribers expanded by 25.7% to 7.1 million.

In the year, Mobile Money made up 13.6% of MTN Ghana revenue.

Floating of shares to be completed in first half of 2018

MTN Ghana is also moving forward with its localisation, and the group expects this process to be completed in the first half of 2018.

Under the terms of its 4G licence, MTN Ghana is required to introduce Ghanaian investors as shareholders.

As a result, the MTN Group board has approved a Public Offer through a listing on the Ghana Stock Exchange (GSE), subject to final approval by the GSE and the Securities and Exchange Commission in Ghana.

A key objective of the listing is to target a broad base of Ghanaian investors to share in the risks and rewards of ownership of MTN Ghana.

X
Advertisement