MTN Amasses GHC3.54Billion As Revenue
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The number one Telecommunication Network in Ghana, MTN Group has announced that it has recorded a 23 percent increase in third-quarter revenue from a year ago. Thus from 2.49 billion Ghanaian cedis to 3.54 billion Ghanaian cedis ($731.90 million).
Information available to Radio1News indicate that the increase in MTN Ghana’s revenue was boosted by its mobile money service, MoMo. MTN was the first to introduce the Mobile Money Services in the country and also have the largest number of subscribers among other Telecommunication Networks.
According to their report, MTN Ghana’s service revenue grew 22.9 percent, its data revenue increased by 30.9 percent and digital revenue rose by 28 percent, driven by MoMo which allows money transfer and payments using a mobile phone, the firm said.
That notwithstanding, MTN Ghana successfully listed on the Ghana Stock Exchange securing over GH₵1.14 billion in a historic Initial Public Offering (IPO) in August this year where Ghanaians got the opportunity to become shareholders in the establishment.
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Official figures from the IPO indicate that about GH₵444m out of the GH₵1.14 billion (GHp75 per share) raised came from Ghanaians, representing about 38.69%.
About GH₵703 million was also raised from non-Ghanaians representing about 61.31%
The figures showed that out of the 128,152 applicants, 127,826 were Ghanaians and only 326 were non-Ghanaians.
MTN said about 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants.
While other networks are fumbling, MTN Ghana has really achieved what any businessmen dream of.
By: Radio1News|Ghana
