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MTN Ghana sees investment in digital and financial services driving growth
Aug 13, 2020
Accra, Aug. 13, GNA - MTN Ghana says it would exploit the several opportunities in the digital and financial services space and invest in infrastructure to further accelerate the company’s growth in the future.
Chief Executive Officer of MTN Ghana, Mr Selorm Adadevoh told a virtual shareholders meeting on Thursday that the company would continue to stick to the drivers of growth, including data, digital, including rich media services and mobile money, enterprise business and wholesale business to drive profit.
The company will also drive down operational cost while efficiently investing in capital expenditure to optimise network performance.
“We are upbeat about our compelling investment case as we continue to maintain a strong position in our market with strong revenue growth and leadership in core service delivery,” he said.
Currently, MTN Ghana maintains market leadership with 55.2 percent share in the competitive telecommunication industry and seeks to invest about US$130 million this year to expand infrastructure.
In 2019, the business reported a profit after tax of GH¢1.01 billion, representing a 33.6 percent increase over prior year, driven by strong performance in service revenue from Voice, Data and Mobile Money.
There was a double-digit growth in voice revenue up 19.4 per cent, which was driven by an increase in the number of active subscribers, the benefits of various customer value management (CVM) initiatives and pro-consumer activity, as well as continued improvements to the network.
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