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MTN Group MTN Ghana posts revenue of ¢2.32billion

A total of GH¢675.6million was paid as taxes to government, constituting around 70 percent of total tax collected by the Ghana Revenue Authority from the Telecom sector.

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MTN logo

(File Phot)

MTN Ghana said its business posted total revenue of ¢2.32billion in 2015, despite a crippling year with power challenges and a slagging growth in the Telecom sector as a result of sluggish consumer spending.

A total of GH¢675.6million was paid as taxes to government, constituting around 70 percent of total tax collected by the Ghana Revenue Authority from the Telecom sector.

MTN remains market leader and has even increased their dominance form 16 million to 16.25 million  between November 2015 to December 2015, according to data from National Communication Authority's mobile Voice and mobile data market report.

The South African company commands 43.45% in voice calls and 47.89% in data subscriptions of  the market in Ghana.

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The company is planning to enlist on the stock market as part of processes to localise 35 percent of its shares.

MTN Ghana CEO, Ebenezer Twum Asante, said Thursday that: “The 4G licence comes with a localisation condition, and we are looking at various options to localise about 35 percent of our business in Ghana – and the stock market will be one of the options. But is it going to be the most favoured option looking at the time we have to do the listing? I don’t know. But as and when we are ready with the full details, we will share how we will go about the localisation condition.”

The company's shares plunged by 20 percent early this year due to poor performance in Nigerian as a result of $3.9 billion fine by the Nigerian government.

 

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