MTN Ghana has reported notable growth in its subscriber base and financial performance for 2024, with a focus on enhancing financial inclusion through its platforms. Key highlights include a 6.5% increase in mobile subscribers and a 34.5% rise in service revenue. CEO Stephen Blewett emphasized strategic partnerships and customer experiences as vital for continued progress, while also addressing ongoing economic challenges and regulatory achievements.
MTN Ghana has placed financial inclusion at the forefront of its growth strategy, culminating in enhancements to platforms such as myMTN and the Mobile Money (MoMo) applications to elevate service delivery. CEO Stephen Blewett remarked on the importance of partnerships with financial institutions and merchants as essential for the development of the MoMo ecosystem and for driving innovation in related services.
In its financial results for the year ending December 31, 2024, MTN Ghana reported a 6.5% increase in mobile subscribers, reaching a total of 28.5 million. Additionally, active data subscribers surged by 13.7% to 17.5 million, while active MoMo users grew by 12.8% to 17.2 million. Service revenue soared by 34.5% to GHS17.9 billion, with EBITDA increasing by 31.3% to GHS10.2 billion.
Reflecting on the company’s successes, Blewett expressed, “As we review our progress throughout 2024, I am delighted to announce that our commitment to excellence in commercial operations and service delivery has led to impressive results.” He highlighted the focus on customer experience and service integration, resulting in the attraction of 1.7 million new subscribers seeking reliable connectivity and financial technology solutions.
Despite ongoing macroeconomic challenges, Blewett noted that strategic initiatives and the dedication of the team have fueled growth in MoMo, data, and digital services. In terms of regulatory achievements, MTN Ghana exceeded the localization requirement for its 4G license, achieving 30% localization for Scancom PLC, as confirmed by the National Communications Authority.
Blewett also mentioned that the Central Bank awarded a Dedicated Electronic Money Issuer to Mobile Money Ltd, underscoring MTN’s commitment to meeting licensing conditions. Looking ahead, he shared a sense of “cautious optimism” regarding Ghana’s economic outlook for 2025, while acknowledging risks such as inflation and exchange rates that could impact economic progress and consumer spending.
MTN Ghana has achieved substantial growth in subscribers and revenue, driven by a strong commitment to financial inclusion and innovation in service delivery. Through strategic partnerships and dedication to customer experience, the company continues to expand its user base despite challenging economic conditions. The outlook for the coming year remains cautiously optimistic, with potential obstacles still on the horizon that could affect the overall economic landscape.
Original Source: broadcastmediaafrica.com
