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MTN Ghana continues to drive financial inclusion as a core pillar of its growth strategy, enhancing its myMTN and Mobile Money (MoMo) platforms to expand access to digital financial services.
“Our commitment to strengthening partnerships with financial institutions, agents, and merchants is key to scaling the MoMo ecosystem and driving innovative financial solutions,” said MTN Ghana CEO, Stephen Blewett.
The company recently announced its financial performance for the year ending December 31, 2024, highlighting impressive growth across key business areas.
Robust Performance Across Key Indicators
In 2024, MTN Ghana recorded significant growth, including:
- A 6.5% increase in mobile subscribers, reaching 28.5 million
- A 13.7% rise in active data subscribers, now at 17.5 million
- A 12.8% growth in active MoMo users, totaling 17.2 million
- A 34.5% surge in service revenue, amounting to GHS 17.9 billion
- A 31.3% rise in EBITDA, reaching GHS 10.2 billion
Reflecting on this success, Blewett stated:
“Our focus on customer experience, seamless service delivery, and digital transformation has fueled our strong performance. By integrating financial services with our telecom offerings, we continue to enhance value for our customers.”
Investing in Network Expansion and Digital Innovation
MTN Ghana’s continued investments in network infrastructure, fintech solutions, and customer engagement strategies attracted 1.7 million new subscribers, reinforcing its leadership in digital connectivity and financial services.
Despite macroeconomic uncertainties, strategic initiatives and a resilient workforce contributed to sustained growth in MoMo transactions, data usage, and digital services adoption.
Regulatory Compliance and Market Milestones
In 2024, MTN Ghana exceeded its 25% localisation requirement, reaching 30% localisation for Scancom PLC, a milestone verified by the National Communications Authority. Additionally, the Bank of Ghana granted a Dedicated Electronic Money Issuer (DEMI) license to Mobile Money Ltd, further solidifying MTN’s fintech ambitions and regulatory compliance efforts.
Outlook for 2025: Continued Growth and Market Expansion
Looking ahead, Blewett expressed cautious optimism regarding Ghana’s economic outlook, acknowledging potential risks such as inflation, currency fluctuations, and energy sector volatility. However, he highlighted government interventions aimed at mitigating these challenges.
With a solid foundation, continuous innovation, and a commitment to financial inclusion, MTN Ghana is well-positioned for sustained growth in 2025 and beyond.
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