MTN Ghana made GH¢238 million profit in 2017 – Ebenezer Twum-Asante

Business News of Monday, 19 March 2018

Source: theheraldghana.com

2018-03-19

play videoChief Executive Officer of MTN Ghana, Ebenezer Twum-Asante

Chief Executive Officer (CEO) of MTN Ghana, Ebenezer Twum-Asante, has expressed gratitude to customers of MTN for believing in the operator, while announcing a growth of 24 percent translating into 3.4 billion in 2017, as against Ghana’s Gross Domestic Product (GDP) which grew by 9 percent same year.

With this impressive figure, it paid an amount of 1billion in a form of tax to government, representing 3 percent of total debt collected by the state in 2017.

At a stakeholders forum to announce MTN’S annual financial performance on Tuesday, Mr Twum-Asante said, MTN made a profit of GH¢238 million in 2017, with a total revenue rise from GH¢2.77 billion in 2016, to GH¢3.4 billion last year.

Mr. Twum-Asante, who doubles as the Vice-President for Southern and East Africa, said the figures were encouraging, adding it couldn’t have been achieved without the support of customers.

Speaking to the media after what he said may be his last presentation, Mr Twum-Asanti, said “The Company grew by 24 percent meaning it grew better than the national economy, our GDP grew by just about 6-7 percent and inflation was about 11 percent.

So if you work and record a growth that is higher than what the national economy had, then it means it went well and we thank all Ghanaians for that”.

The company which has remained the most profitable telephony company over the years, attributed it excellent showing on the increase in subscriber base, which has reached a total of 15.7 million, investments and savings in Mobile Money and additional subscribers base in rural communities which hitherto did not have mobile service coverage.

Currently, there is a total of 8.3 million active wallets, who are paid interests every three months.

The company said, it paid a sum of GHc98.9million interest to subscribers from January 2017 to December 2017.

It revealed it recorded 100 thousand Mobile Money pay points by close of last year.

According to the CEO, MTN, is working to ensure it platform remains the most preferred means to do mobile business.

In the wake of the many robbery attacks on Mobile Money agents, the company said it was working with the security agencies, to ensure it agents go about performing their duties without fear of being killed or robbed.

Mr Twum-Asante, shot down claims that MTN was working to take over the business of banks in the country.

He said what the giant network operator is interested in, was to partner these banks to provide services to customers and nothing beyond.

“We are not a bank because that is not our core business. We are a telecom business; our core business is bringing down telecom available to the average consumer that is our work.

Along the line because banking relies heavily on information, we saw the need to make banking services available on digital platform and the model that we have implemented across MTN footprint, is one of partnership we do it with the bank.

He went on “Almost every important bank is a partner. All these partners are working with us. Our model is not to replace any bank,” he said. “The digital journey is such a way that we can’t do it alone that is why we are partnering others”, the CEO said to allay fears.

On what to expect in 2018, Mr Twum-Asante said the telecom giant is working to extend internet to every household in support of the digital agenda.

In the next five years, MTN will be working to ensure every home has fibre broadband service.

He predicted it is going to perform as it did in 2017 saying “It is expected to be another good year; indications are good and I am hopeful”.

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