MTN makes significant progress driving financial inclusion and digital services

Business News of Friday, 23 March 2018

Source: thebftonline.com

2018-03-23

MTN Mobile Money with its payment option have made financial services accessible to more people

MTN recorded a strong performance in its revenues in the year 2017. Strong growth in revenue was up by 23.3% and underpinned by data and digital revenue growth.

This was made known when the company shared its financial performance for 2017 and strategic operational plans for 2018 with the media and other stakeholders at its headquarters in Accra.

Mr. Ebenezer Asante, CEO/MTN Group Vice President for South East and Ghana (SEAGHA) region, led other executives of the company to present the company’s performance.

Sharing insights on how MoMo has contributed to transforming the lives of Ghanaians, Mr. Asante said: “Mobile Money has contributed significantly to employment creation, with jobs for over 90,000 merchant points across the country who received a total of US$4.4million (GH¢19.6m) as commission in 2017.

“MoMo has created a very convenient mode of payment for various goods and services, including the purchase of Treasury bills for especially people in the informal sector.” All the innovative payment options have made financial services accessible to more people, thereby increasing the level of financial inclusion in Ghana.

Organised under the theme ‘Providing a Connected Lifestyle with Bright Digital Services’, the MTN Media and Stakeholder Forum platform discussed the impact of MTN’s operations and its contribution to Ghana’s economy.

According to the Sales and Distribution Executive of MTN Ghana, Mr. Eric Nsarkoh-who shared insights on the commercial performance of the business, MTN made significant progress in smartphone growth which contributed significantly to increase in data revenues.

He said this was made possible through smart partnerships with Original Equipment Manufacturers (OEMs) and the introduction of innovative digital services and Mobile Apps such as the Kumawood app, MTN music plus, Farmer Help and the Agoo platform for social change.

The MTN Business Fibre to the Home broadband service was a great success in 2017.

In order to optimise the experience of customers on the network, Chief Technical Officer Mr. Mohammed Lawal-Rufai said: “MTN will invest an amount of US$144million into network expansion projects in 2018”.

The Chief Financial Officer for MTN, Mr. Modupe Kadiri, shared details on the contributions MTN made to the state in terms of tax contributions and payment of regulatory fees. He said: “As a good corporate citizen, MTN paid a total of GH?1.218billion as total taxes for the year 2017”.

On people and social investments, the Human Resource Executive of MTN, Mrs. Amma Benneh-Amponsah, indicated that MTN has made significant investments in attracting and retaining talent through training to enable them deliver on the strategic agenda of the business. MTN continued to invest in community development in the areas of Health, Education and Economic Empowerment. These made MTN an Employer of Choice and the best CSI organisation.

Going forward, MTN plans to expand its network to provide more data coverage and deepen its partnerships.

The forum was attended by Directors from the National Communications Authority (NCA), CEO of the Ghana Chamber for Telecommunications and representatives from the Ghana Investment Fund for Electronic Communications (GIFEC). Other stakeholders include MTN’s technology and business partners from Huawei, Ericsson, ATC and President of the MTN Distributors Association.

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