A circular sent to shareholders and other stakeholders on the Ghana Stock Exchange (GSE), said the data instability was caused by "double undersea fibre optic cable cut in Europe."
The circular explained that the cut which is in the West Africa Cable System (WACS) has also affected other operators and customers in West Africa.
MTN released the circular after several complaints by customers in Ghana of the company's network that data services were unstable.
In the circular, the company said "MTN Ghana is aware of the issues affecting mobile data connectivity across Ghana and many areas in West Africa. This is as a result of a double undersea fibre optic cable cut in Europe."
It assured customers that it was working with its international providers "to restore connectivity as quickly as possible."
"This situation is affecting all operators and customers in the West Africa region due to cut on the West Africa Cable System (WACS)," the circular added.
The West Africa Cable system is an ultra-high capacity fibre optic submarine cable which links Europe, West Africa, and South Africa. It connects 14 countries over two continents.
"MTN has already begun work to restore traffic through other channels and will continue to use alternative routes of connectivity and additional capacity to ease the congestion until the situation is resolved," it said
MTN said it will not rest "until we have restored all services for our customers."