MTN Ghana has projected an investment of over US$1.05 billion in infrastructure and information systems over five years, starting from 2021, to support the vision of a digital Ghana.
The company has also said it is in advanced stages of an agreement to implement a national roaming plan in partnership with other operators and with the Ghana Investment Fund for Electronic Communications (GIFEC) as part of government’s rural telephony project to extend communications to most rural communities.
“This initiative will enable MTN to share its infrastructure with other telecommunication operators in Ghana and vice versa, in order to increase the efficiency of infrastructure spend, expand quality telecom coverage or reach and accelerate further development and long-term viability in the telecoms industry,” the company’s annual results for the year ended 31 December 2021 said.
It said over the years, MTN has won various awards as the highest taxpayer in Ghana in recognition of its contribution to the fiscal development of the country. During the year, MTN paid GHC2,767 million to government in direct and indirect taxes, representing 35.8% of our total revenue.
“In line with our commitment to create shared value, we continue to make significant contributions through the creation of direct and indirect employment opportunities impacting over 500,000 Ghanaians, as well as interventions to support our people, our cherished customers and other key stakeholders through the socioeconomic challenges brought about by the pandemic.
Noting that it will contribute GHC150 million over three years to Ghana’s long-term transformation agenda, it added, “For 2022, through the MTN Foundation, we will dedicate at least GHC20 million towards social investments to support and impact the communities within which we operate.”
MTN Ghana’s mobile subscribers increased by 3.9% to 25.4 million while active data subscribers also up by 15.3% to 12.4 million. Active mobile money (MoMo) users increased by 3.8% to 11.0 million, service revenue grew by 28.5% to GHC7,701 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 33.7% to GHS4,249 million while EBITDA margin was up by 2.3 percentage points (pp) to 55.0%.
Total CAPEX for the period was GHC1, 485 million with a proposed final dividend per share of GHC0.085. The company spent GHC14.3 million on socio-economic initiatives in 2021; paid GHC2,767 million in direct and indirect taxes during the period.
On its outlook, the company stated, “We forecast service revenue growth in the high teens over the medium-term from the previous guidance of 13% to 15%.”
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