Ghana’s telecommunication giant, MTN has reiterated its commitment to continuously provide their customers with innovative, cutting edge mobile products and services that meet their daily demands, this year, as they remain core to their operations.
This pledge is hinged on the telco’s delivery of unmatched, advanced, digital, seamless voice, data and mobile financial services, over the years to some 22.6 million subscribers across the 16 regions of the country.
Addressing shareholders and participants at the MTN’s 2020 Annual General Meeting of Shareholders, held virtually on Thursday, Chief Executive Officer, Selorm Adadevoh mentioned “2019 marked the “Year of the Customer” for MTN Ghana and in 2020, we are building on that foundation as we transition from a traditional mobile telecommunications operator to an emerging digital operator. Our focus on the customer is paramount and drives continuous innovation.”
He added that a huge increase had been realized regarding data services owing to the Covid-19 pandemic.
“We’ve seen an increased demand for digital services which translates into a surge and spike in data traffic and data usage from various locations. We’ve seen a lot of our customers move from office based to remote working from home. We’ve also seen schools too working from home with e-learning being the primary learning mechanism for doing it. As a result, we’ve seen something like 20/25 per cent increase in traffic patterns for data; voice has been fairly steady.”
Mr. Adadevoh continued that while MTN monitors the unfolding developments of the pandemic, his outfit was exploring several ways to lessen the impact on their business.
MTN Shares Analysis
The company approved Ghs737.4 million to be paid as dividend to its shareholders for the 2019 financial year.
At the close of 2019, Scancom PLC (MTN Ghana) had a market capitalisation of GH¢8.6 billion making it the third largest listed company on the Ghana Stock Exchange (GSE).
Also, with a stock market turnover of 52.7 per cent, MTN became the most traded stock on the GSE.
Board Chairman Ishmael Yamson posited that “The Board declared an interim dividend of 2 pesewas per share after reviewing the mid-year performance of the company. After reviewing the full year performance of the company in 2019, the Board shall be recommending a final dividend of 4 pesewas on ordinary shares bringing the total dividend for the year 2019 to 6 pesewas per share or 73.1% of profit after tax and a 20.0% YoY increase in dividend per share. Overall, our performance generated a return on equity of 36.0% to our shareholders. This represented a YoY improvement of 4.7 percentage points.”
Corporate Social Responsibility
The MTN Ghana Foundation, since its inception in 2007 has invested Ghs41 million in 149 diverse, sustainable projects nationwide. These projects have been deliberately targeted at improving health, education and economic empowerment of Ghanaians.
These interventions include scholarships for higher learning, set-up of ICT centres, construction and rehabilitation of schools, health blocks, establishment of small scale enterprises in communities, skills training programmes, donation of critical life-saving infrastructure among others.
MTN Mobile Money
Touching on MTN Mobile Money (MoMo), General Manager for Mobile Financial Services, Eli Hini expressed satisfaction about the heights it had reached since it was introduced some 11 years ago.
About Ghs4 billion in transactions have been realized through the platform, with over 15.5 million active users.
He however encouraged subscribers to support the fight against mobile money fraud which is becoming an affront to the smooth running of transactions.
Mr. Hini intimated that the network’s dedication to collaborating with the relevant stakeholders such as the security agencies, to tackle this canker continues unabated, as over 40 mobile money fraudsters have been arrested across the country.
He further stressed that subscribers must not share their PINs with others and also not entertain false calls and messages of fraudsters.
With the month of August dubbed the Mobile Money Month, MTN Ghana is pushing for Ghanaians to embrace digital payment systems, especially during the Covid-19 pandemic.