MTN Ghana has announced that it has met the 25% local ownership requirement for its 4G license, with 27.9% local ownership of Scancom PLC, its registered name in Ghana. The company has committed to further localizing its operations and will work closely with regulators to achieve this goal.
This achievement comes as MTN Group, the largest telecoms provider in Africa, expands local investment in its operating companies across the continent. MTN has made significant progress in Nigeria, increasing its local shareholder base to 139,000 retail investors, and has completed a share offer in Uganda.
MTN Ghana’s results for the six-month period ending June 30, 2024, show significant growth, with a 3.9% increase in mobile customers, 15.9% increase in active data subscribers, and 16.2% increase in active Mobile Money users. Service revenue increased by 31.2% to $526 million, while EBITDA increased by 31.3% to $298 million.
The company has committed to investing in developing its platforms and improving its network and services, with a focus on unlocking value for stakeholders in accordance with its Ambition 2025 objective. Despite election-related and macroeconomic uncertainties, MTN Ghana maintains its medium-term guidance of high twenties growth in service revenue.
