MTN Ghana's CEO, Stephen Blewett, has highlighted the company's resilience amidst Ghana's challenging macroeconomic environment at the 7th annual general meeting held in Accra. "Despite economic headwinds, I'm pleased to report that MTN Ghana achieved impressive results in 2024," Mr. Blewett noted.
The company's service revenue grew by 34.5% year-on-year, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 31.3%. These successes reflect MTN Ghana's strategic efforts to navigate challenges and commitment to Ambition 2025 priorities.
According to Blewett, the company's growth was driven by significant strides in its digital transformation journey and the launch of innovative services like mobile financial services and digital entertainment.
Ishmael Yamson, MTN Ghana's Board Chairman, emphasized the company's efforts in strengthening its governance framework, ensuring transparency and accountability. "We've achieved notable progress in our Environmental, Social and Governance (ESG) initiatives, demonstrating our commitment to sustainable practices and corporate responsibility."
Despite the global economy's mixed performance, MTN Ghana remained focused on its strategic objectives. The company showcased exceptional resilience, achieving a remarkable 34.5% year-on-year growth in service revenue amidst Ghana's challenging macroeconomic environment.
The Board of Directors recommended a final dividend payment of 24 pesewas per share, totaling GHC4.0 billion, which accounts for 80% of the company's profit after tax. This represents a significant increase of 35.6% in dividend per share compared to 2023.