MTN Ghana has unveiled an ambitious plan to invest $200 million in 2024 as part of a broader $1 billion capital expenditure strategy aimed at enhancing its network infrastructure and IT systems over the next five years. This investment underscores the telecom giant’s commitment to boosting its network capacity and service quality amid growing competition in Ghana’s telecommunications market.
Speaking at the Ghana Stock Exchange’s “Facts Behind the Figures” programme, MTN Ghana CEO Stephen Blewett stressed the need for sustained capital investment to maintain the company’s growth trajectory. “We have to continue investing capital,” said Mr. Blewett. “Over the next five years, MTN Ghana plans to spend $1 billion, with a large portion dedicated to network expansion and modernization.”
The planned investment reflects MTN Ghana’s efforts to maintain its competitive advantage by improving service delivery and customer experience. Infrastructure upgrades have already begun in the Greater Accra region, with plans to expand nationwide.
Central to MTN Ghana’s strategy is the adoption of advanced technologies like “massive MIMO,” which increases network capacity without requiring additional spectrum. This upgrade is crucial to meet rising demand for data services, offering faster speeds and greater reliability.
MTN Ghana’s capital expenditure aligns with its broader digital transformation agenda, which has driven the company’s recent financial success. In the first half of 2024, the company reported a 31.2% year-on-year growth in service revenue to GHS 8.1 billion, with data and mobile money (MoMo) revenues playing a significant role. Data revenue alone surged 55% to GHS 4 billion, reflecting the growing reliance on internet services for communication, entertainment, and business.
Despite the rise in data usage, voice revenue fell 3.1% year-on-year to GHS 1.7 billion, illustrating a shift in consumer behavior towards data-based services. However, mobile money revenue grew by 44.8% to GHS 1.9 billion, driven by a 16.2% increase in active users and the introduction of advanced digital financial solutions. Peer-to-peer transactions via MoMo rose 43.1%, and digital revenue from services like video streaming and gaming climbed 59.4% to GHS 101 million.
MTN Ghana’s investment also focuses on enhancing customer experience through advanced analytics, enabling real-time monitoring and quicker resolution of service issues.
As MTN Ghana pushes forward with its five-year plan, it aims to meet evolving customer needs while cementing its position as the market leader in Ghana’s telecommunications sector. This $1 billion investment represents a bold commitment to future growth, innovation, and improved digital inclusion across the country.
