MTN Ghana’s third-quarter financial report shows a substantial tax contribution of GHS 6.1 billion to the Ghanaian government for the nine months ending September 30, 2024—a 49.5% year-on-year increase, highlighting its growing economic role.
Despite economic headwinds, MTN Ghana recorded a strong 32% rise in service revenue, reaching GHS 12.7 billion, largely due to surging demand for data and Mobile Money (MoMo) services. Earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 32.2%, totaling GHS 7.2 billion, with an EBITDA margin improvement to 56.2%. Profit after tax also rose by 35.5%, reaching GHS 3.8 billion.
Key drivers included a 53.4% spike in data revenue, fueled by a 17.3% increase in active data users, and a 50.8% MoMo growth, reflecting MTN’s fintech success. Additionally, the company invested GHS 3.7 billion in network expansion to enhance service quality.
In an economic environment marked by high inflation and currency pressures, MTN’s sustained performance and increased tax contributions underscore its resilience and commitment to Ghana’s economy. The company remains focused on expanding digital services and supporting development initiatives, including scholarships and MSME seed funding.
