MTN Ghana reports GH¢4 billion in earnings for 2023; the company will distribute GH¢0.175 in dividends per share.

By flymultimediaghana Mar10,2024
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In yesterday’s release of its audited 2023 financial report, the company declared a dividend of GH¢0.175 per share and announced a profit of GH¢3.98 billion cedis. The price of the company’s shares on the Ghana Stock Exchange closed yesterday’s trading at GH¢1.39, down 0.01 pesos.

MTN Ghana reports GH¢4 billion in earnings for 2023; the company will distribute GH¢0.175 in dividends per share.
MTN Ghana reports GH¢4 billion in earnings for 2023; the company will distribute GH¢0.175 in dividends per share.

Even though the year had its share of challenges, MTN Ghana never wavered in its commitment to providing value to all of its stakeholders.

The company’s robust growth in voice, data, and mobile money contributed to a 34.6% year-over-year increase in service revenue. This expansion resulted in a 39.4% annual gain in earnings after taxes, totaling GH¢4.0 billion. With GHS 225 million in outstanding principle debt, MTN Ghana also kept a strong balance sheet. It paid both direct and indirect taxes totaling GH¢5.9 billion.

MTN Ghana made network and infrastructure investments a top focus in 2023. The business spent GH¢3.3 billion on network expansion, key capital expenditures, and raising service standards. With the deployment of 350 new 2G, 353 new 3G, and 350 new 4G stations as a result of this expenditure, an astounding 99.3% 4G population coverage was attained.

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MTN Ghana stated that it was still dedicated to its social responsibility initiatives despite poor financial performance. The MTN Ghana Foundation contributed GHS 30.3 million to programs that promote economic development, education, and health.

In addition, the business is committed to environmental sustainability, working toward net-zero carbon emissions by 2040 and promoting inclusion and diversity in the workplace, with a target of 50% female representation by 2030.

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