The move forms part of its efforts to allow people in the sixth-largest region in the country to own shares in the company.

Apart from Accra, where the IPO was launched, awareness of the shares has taken the company to Kumasi, Sunyani, Takoradi and Wa.

The public share offer of MTN Ghana began last Tuesday, May 29, 2018, and will end on July 31, 2018 at 5 p.m. The entire offer is for two months after which the allotment will begin.

At the ceremony which attracted scores of people in and around the region, the General Manager for Enterprise Business at MTN Ghana, Mr Sam Addo, commended the people of the region for their support of the successful operations of the company.

Mr Addo explained that MTN was listing its shares to meet conditions agreed in 2015, when it acquired the right for the 4G license.

“With last Tuesday’s launch, we have made history as the first telco to be listed on the Ghana Stock Exchange at the conclusion of this exercise. As we entrench our position as the leader in Ghana, we are hopeful that this transaction will have a positive impact on our local market, including this region, and expand the frontiers of inclusion,” he stated.

Mr Addo added: “Starting in 1996 when Scancom made history by being the first company to introduce GSM technology in Ghana, the expansion began. Upon acquisition of the company in 2006, MTN inherited 2.5 million subscribers and quickly achieved the 10-millionth subscriber milestone within five years. Today, we are over 17 million subscribers, with about 1.034 million coming from this region.”

“We cherish the commitment of our people to the success of our business and have worked hard to attain the ‘Investor in people’ global accreditation (Gold Advance),” Mr Addo said and added, “when we gauge our customer aspirations and their expectations of us, there is no doubt we still have huge opportunities ahead of us to conquer.”

Invest in MTN

According to Mr Addo, MTN is offering Ghanaians the rare opportunity to invest in the country's best in mobile voice, with 17.8 million subscribers, representing a 47.6 per cent market share.

MTN, he said, was also Ghana’s best in mobile data, with 12 million active subscribers, representing a 56.5 per cent market share and also Ghana’s best in mobile money, with 11.6 million registered wallets, and a 93.9 per cent market share of mobile money float.

“Since 2013, we have built a track record of translating significant investment into strong financial performance, with 18 per cent annual revenue growth, 39.2 per cent average EBITDA margins, 39.3 per cent average return on equity, and 56.2 per cent of net profit, on average, paid out as dividends to shareholders (dividend payout).

How to participate

Mr Addo entreated interested applicants to contact its receiving banks or visit MTN branches.

“I am very delighted to say that we are also allowing shares to be bought through mobile money. Our checks from GSMA confirms that this is the first time that mobile money will be used to buy shares in an IPO (and subsequently trade them) anywhere in Africa or the world over.

“This channel demonstrates another use case for mobile money and will accelerate financial inclusion in the capital markets of Ghana for many people in the length and breadth of this country, who would not ordinarily have access to the capital markets.

“We are quite pleased with the number of applications received using this channel within 24 hours post opening the offer. With about 803,000 mobile money subscribers here in the Eastern Region, we expect those who are interested in using that channel to have a smooth, convenient experience,” Mr Addo said.

Commendation

The Krontihene of New Juaben Traditional Council, Baffour Tutu Boateng, who is a representative of the Omanhene of New Juaben, commended the board and management of MTN for taking such a giant step.

“I will like to commend all of you, particularly MTN, for working diligently towards ensuring 35 per cent of its shares is made available to Ghanaians as a key regulatory requirement for operating its 4G technology,” he said.

He observed that the telecommunications and ICT industry continued to be a key contributor to Ghana’s economy. Undoubtedly, the expansion of the 4G technology nationwide had and would continue to unlock and accelerate the growth of an information and knowledge-based society, while driving economic growth.