Prime News Ghana

MTN Ghana made GHc9.3m a day in revenue for the year 2017

By PrimeNewsGhana
MTN Ghana made GHc9.3m a day in revenue for the year 2017
MTN Ghana made GHc9.3m a day in revenue for the year 2017

Mobile Telco, MTN Ghana has been affirmed as the most profitable network operator in the country as it earned a daily revenue of GHc9.3m in the year 2017.

MTN's total revenue experienced a 23.3% increase with GHc 3.4 billion in 2017, as against the GHc2.77 billion revenue in 2016.

The Chief Executive Officer of MTN Ghana, Ebenezer Asante-Twum speaking at a media forum, announced that the company made a profit of GHc238 million last year.

According to the group, Data revenue increased by 50.6%, supported by the re‐pricing that was implemented in the second half of 2017. The business reported active data subscribers of 6.5 million while digital revenue grew by 37.7% last year.

Speaking on the company’s Mobile Money transaction, Asante-Twum said MTN has made GH₵98.9 million interest payments to subscribers from January 2016 to December 2017.

In 2017 alone, he said, MTN paid GH₵71 million by way of interest to subscribers and recorded 8.3 million active wallets for 90 days.

The mobile network operator said it paid an average monthly commission of GH₵19.6 million to agents.

The number of active Mobile Money (MoMo) subscribers also expanded by 25.7% to 7.1 million.

MTN Ghana is also moving forward with its localisation, and the group expects this process to be completed in the first half of 2018.

Under the terms of its 4G licence, MTN Ghana is required to introduce Ghanaian investors as shareholders.

As a result, the MTN Group board has approved a Public Offer through a listing on the Ghana Stock Exchange (GSE), subject to final approval by the GSE and the Securities and Exchange Commission in Ghana.

A key objective of the listing is to target a broad base of Ghanaian investors to share in the risks and rewards of ownership of MTN Ghana.