MTN Ghana has reaffirmed its commitment to financial inclusion by making it a core component of its growth strategy. The telco is enhancing its digital platforms, including myMTN and Mobile Money (MoMo), to provide seamless financial services, strengthen partnerships with financial institutions, and expand the MoMo ecosystem. These efforts aim to drive financial accessibility and innovation across Ghana.
The company recently released its financial results for the year ending December 31, 2024, showcasing remarkable growth. MTN Ghana’s mobile subscriber base grew by 6.5% to 28.5 million, active data subscribers increased by 13.7% to 17.5 million, and active MoMo users surged by 12.8% to 17.2 million. These numbers highlight the increasing adoption of MTN’s services as more Ghanaians embrace digital connectivity and fintech solutions.
Financially, MTN Ghana recorded a 34.5% rise in service revenue, reaching GHS17.9 billion, while its EBITDA grew by 31.3% to GHS10.2 billion. CEO Stephen Blewett attributed this success to strong commercial execution, enhanced service delivery, and customer experience improvements. He emphasized that investments in network upgrades, innovative solutions, and customer engagement have not only strengthened MTN’s existing subscriber base but also attracted 1.7 million new users.
Regulatory milestones were also a key achievement in 2024. MTN Ghana surpassed the regulatory localisation requirement for Scancom PLC, achieving 30% localisation—above the mandated 25%. The National Communications Authority confirmed that Scancom PLC now meets the localisation requirement for its 4G license. Additionally, Mobile Money Ltd received a Dedicated Electronic Money Issuer license from the Central Bank, reinforcing MTN’s commitment to regulatory compliance and financial service expansion.
Despite macroeconomic challenges, MTN Ghana remains optimistic about the future. The company acknowledges potential risks such as inflationary pressures, exchange rate fluctuations, and energy sector challenges, which could impact consumer spending and business operations. However, it remains committed to navigating these challenges through strategic initiatives and strong financial planning.
As Ghana looks toward 2025, MTN Ghana continues to drive digital transformation and economic growth. With a strong focus on financial inclusion, network innovation, and regulatory compliance, the company is poised to shape the future of connectivity and fintech in the country, empowering millions with accessible and reliable digital services.
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