MTN Ghana Sees Rise In Service Revenue

MTN’s business in Ghana, which was listed in Accra in 2018, reportedly increased its dividend by a fifth in its year that ended in December, reporting a rise in subscribers and data revenue as subscribers in the West African country switch to smartphones.

Yesterday, the multinational mobile telecoms company’s fourth-largest market reported a 22.8% surge in service revenue, while earnings went up by 65.7%.

As new lines of revenue have continued to grow faster than the traditional business, voice revenue’s contribution to overall service revenue decreased from 46.3% to 45%, according to the company. 

Subscribers grew by 12.3% to 22.6-million, the group announced, with data revenue growing by 32.5%.

This strong performance in MTN Ghana carries on from the rapid growth during the six months to June when it increased its earnings by more than 50% in the six months to end-June thanks to better mobile-money revenues.

Ghana has also become one of MTN’s strongest markets for the mobile money (MoMo) offering.  

MTN said that it had increased its active mobile money subscribers by 10.6% to an impressive 15.1-million. This growth is accredited to commissions on cash-in-cash-out transactions, growth in advanced services such as retail merchant payments as well as increased person-to-person transactions.

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