MTN Ghana Hosts Media And Other Stakeholders At Its 2014 Annual Results Announcement Forum

Accra, March 23, 2015 – MTN Ghana has announced its financial results for the year 2014 at a stakeholder forum held in Accra. The forum was used to brief the media and a number of key stakeholders on company and industry issues.

Speaking at the event, Chief Executive Officer of MTN Ghana, Serame Taukobong, shared highlights of MTN’s performance in 2014, attributing the success of its operations to significant performance in Data and Mobile Money Services. He said, “MTN Ghana recorded 7.1% subscriber growth, 123% growth in data revenues and 3.4 million registered subscribers on the MTN Mobile Money service.”

Highlighting the impact of infrastructure investments on Quality of Service (QoS), Mr. Taukobong revealed that MTN had passed all QoS parameters measured by the National Communications Authority (NCA) in 2014. He said, “Having already invested GH₵2 billion in network expansion and improvements, MTN Ghana will continue to enhance its network capacity for improved customer experience with a further investment of GH₵ 460million for the year 2015.”

Mr. Taukobong outlined challenges affecting MTN’s operations, noting increased cost, battery theft from MTN cell sites, fiber cuts, SIMbox fraud and power disruptions as key among many challenges.

He explained that due to increased electricity tariffs and higher demand for fuel to power generators, the company exceeded its electricity and fuel budget by about 30% in 2014, spending approximately GH₵ 86 million on fuel and electricity rather than the budgeted GH₵ 61 million. On the issue of SIMbox, he reiterated the need to eliminate the 19 cent-per-minute surcharge imposed by law on all incoming calls, in order to bring an end to the SIMbox fraud menace.

In spite of the challenges, MTN continues to invest in communities with impactful projects through the MTN Ghana Foundation. The Foundation has earmarked an estimated sum of GH₵3.3 million to invest in Education, Health and Economic Empowerment and other community enriching projects in Ghana in 2015.

Highlighting the contributions of MTN to national development, Mr. Taukobong pointed to job creation, local business support and contributions to government revenue. Through direct employment by MTN as well as indirectly through a host of companies that depend on MTN for business, MTN took responsibility for approximately 500,000 jobs in Ghana, led by its retail distribution structure and extending to vendors and suppliers, including advertising and media agencies, content providers and printing, insurance, shipping and hospitality companies. MTN also revealed tax payments to government totaled GH₵605 million in 2014. Local currency payments to NCA totaled over GH₵50 million, plus US$26.6 million for international incoming traffic

The Chief Executive of Officer of the Ghana Chamber of Telecommunications, Kwaku Sakyi Addo, in his address, emphasized the importance for Ghanaians to focus on the significant contributions that the telecoms industry is making to the growth of Ghana’s economy. He spoke about the importance of the media and civil society organizations to the telecommunications industry, and commended MTN Ghana for bringing key players of the industry together at such a forum.

Other stakeholders present at the forum congratulated MTN for their achievements and urged MTN to continue the good work of providing unparralled telecommunication services. They include the CEO of the Consumer Protection Agency (CPA), executives of media associations such as Private Newspaper Publishers Association of Ghana (PRINPAG), Ghana Journalists Association (GJA), Sports Writers Association of Ghana (SWAG), Network of Communications Reporters (NCR) and a member of the National Media Commission.

Media Contact:
Cynthia Lumor
Tel: 024 4300 000

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