Selorm Adadevor
MTN Ghana recorded GH¢ 2.9 billion representing 48.8% increase in its mobile money revenue for 2023.
Chief Executive of MTN Ghana, Selorm Adadevor who made this known at the company’s sixth annual General Meeting in Accra said the year-on -year increase and the consistency of its performance and growth was attributed to the expansion and partnerships with financial institutions.
He said its overall profit after tax increased by 39.4 percent year on year to GH¢4.0 billion.
He, however, mentioned that its subscriber base decreased recording 26.8 million as at December 2023 due to the SIM re-registration exercise which saw 5.4 million unregistered SIMs blocked.
Mr. Adadevor also said data revenue grew by 50.9 % year-on-year to GH¢ 5.8 billion.
According to him, the growth in demand for data was as a result of various commercial interventions coupled with investments in network infrastructure to offer high speed data services to homes and mobile subscribers.
He further mentioned that voice revenue recorded 9.0% growth to GH¢3.6 billion supported by customer value management initiatives offering bundles and packages that meet the diverse needs of its customers while voice to total service revenue declined from 33.1 percent to 26.8 percent.
Touching on the recent internet disruptions that affected the capacity of internet usage among its clients, he said though the disruptions have been rectified for its clients to have full internet capacity, work is still ongoing to rectify the disrupted sea cables to give them additional resilience.
He further indicated that though the company has used other route between Cote d’Ivoire and Senegal to provide services for its customers, investment in diversity, working with regulators, policy holders would be the best option to prevent recurrences of such internet disruptions in future.
By Ebenezer K. Amponsah