MTN Ghana Boosts Tax Contributions by 49.5% to GHS 6.1 Billion Amid Strong Revenue Growth
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...
