On May 30th, 2023, Scancom PLC held its 5th Annual General Meeting where the Board Chairman, Dr. Ishmael E. Yamson, updated shareholders on the company’s performance for the year 2022. According to Dr. Yamson, MTN Ghana had a strong performance in 2022 with a YoY revenue growth of 28.4%. The growth was attributed to the good execution of the commercial strategy by the management team which resulted in an increase in Voice, Data, and Mobile Money (MoMo) revenues. The shareholders were pleased with the results and expressed their confidence in the company’s future growth prospects.
MTN, a leading telecommunications company in Ghana, is dedicated to enhancing the wellbeing of Ghanaians through sustainable socioeconomic initiatives. Dr. Yamson, a representative of the organization, stated that in addition to investing in their network and IT systems, MTN allocated GHS28.3 million to support health, education, and economic empowerment projects in 2022 through the MTN Ghana Foundation.
This significant investment demonstrates MTN’s commitment to creating a positive impact on the lives of Ghanaians, particularly those living in underserved communities. By prioritizing these critical areas, MTN is contributing to the growth and development of the country’s economy and society.
Speaking at the AGM, the Chief Executive Officer of MTN Ghana, Mr. Selorm Adadevoh enumerated MTN’s commitment to driving growth and unlocking value for all stakeholders through its Ambition 2025 strategy. He said, “We are confident in the medium to long-term prospects of Ghana’s economy and as such, MTN commits to continue to invest efficiently in infrastructure and to improve the capacity and quality of connectivity and other related services for our customers.”
CEO of MTN Ghana responding to questions at the AGM
Touching on MTN’s digital initiatives, Mr. Selorm Adadevoh said “MTN will continue to lead the adoption of new innovative solutions that solve relevant problems for Ghanaians. MTN will deepen the ongoing work to improve its platforms, particularly MyMTN and Ayoba Apps, as well as MoMo as part of MTN’s three-app strategy to enhance customer choice, customer experience and to deliver on MTN’s commitment of excellence to its cherished customers”.
“The communities we operate in remain core to everything we do and to this end, MTN continues to extend various sustainable projects and initiatives to improve communities across the country with a focus on building and growing digital skills among the youth, with a particular focus on females”, Mr. Adadevoh stated.
Since its listing on the Ghana Stock Exchange (GSE) in 2018, the company remains the organization with the largest number of Ghanaian shareholders.
Selorm Adadevoh, CEO of MTN Ghana delivering his statement at the AGM
Dr. Ishmael Yamson delivering his Statement at the AGM
Source: MTN Ghana