MTN Ghana records billion cedi increase in revenue
The MTN Group has announced that its Ghana unit recorded a 23 increase in third-quarter revenue from a year ago from 2.49 billion Ghanaian to 3.54 billion Ghanaian ($731.90 million)
During the quarter, MTN Ghana’s service revenue grew 22.9 , its data revenue increased by 30.9 and digital revenue rose by 28 , driven by MoMo which allows money transfer and payments using a mobile phone, the firm said.
In August this year, MTN Ghana successfully listed on the Ghana Stock Exchange securing over GH₵1.14 billion in a historic Initial Public Offering (IPO).
Official figures from the IPO indicated that about GH₵444m out of the GH₵1.14 billion (GHp75 per share) raised came from Ghanaians, representing about 38.69%.
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About GH₵703 million was also raised from non-Ghanaians representing about 61.31%
The figures showed that out of the 128,152 applicants, 127,826 were Ghanaians and only 326 were non-Ghanaians.
MTN said about 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants.