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MTN MoMo accounts hit 8.3 million

The number of active Mobile Money (MoMo) subscribers on the biggest Telecommunication Network, MTN Ghana have increased tremendously from 7.1 million in 2016 to 8.3Million in 2017.

This reflected in revenue, as the company’s total revenue increased from GH₵2.77 billion revenue recorded in 2016 to GH₵3.4 billion in 2017. The GH¢3.4 billion revenue divided by 365 days in the year translates into GH¢9.3m (GH¢9,315,068.49) daily revenue in 2017.

MTN’s current subscriber base has also shot up to 17.8 million representing 55.9% of mobile users  in 2017 with over 90,000 mobile money agents  and 16 partner banks in 2017.

This was revealed by the  the Acting Senior Corporate Services Executive of MTN, Mrs Pala Asiedu Ofori, during an interaction with the media in the Central Region in Cape Coast on Wednesday to discuss the achievement of the organization in 2017 as well as its corporate strategic vision for 2018.

As part of initiatives for the year 2018, she revealed MTN  Ghana has introduced the BRIGHT initiative to win more customers and also serve customers better. This she explained as;

“B”-  Best Customer Relations
“R”- Returns and efficiency focus
“I” – Ignite Professional Performance
“G”- Growth
“H”- Human resource
“T” – Technology

Mrs Pala Asiedu, further added that, MTN has rolled out new services such as social bundles and yellow birthday, providing quality service, improving distribution networks and bringing on board more value-added services for voice calls and data services across the country,  digitized bill payments, customer feedback mechanisms, increased service points and data packages to make internet usage more convenient to customers.

Additionally, the company would also roll out 230 new sites for extension,  200 rural sites extension,  1,100 3G new sites, 695 km of fibre and fibre-to-home extension to 20,000.

She also revealed MTN Ghana will invest 144 million dollars to improve and expand quality network services. MTN has a market share of about 17.8 million mobile subscribers therefore it was important that the company invested in its operations to meet the growing customer demands.

Vice-President for Southern and East Africa and Chief Executive Officer (CEO) of MTN Ghana, Ebenezer Asante-Twum in his presentation underscored that, under the terms of its 4G licence, MTN Ghana is required to introduce Ghanaian investors as shareholders.
As a result, the MTN Group board has approved a Public Offer through a listing on the Ghana Stock Exchange (GSE), subject to final approval by the GSE and the Securities and Exchange Commission in Ghana.

He said the company paid GH¢1.218 billion  taxes in 2017, made up of GH¢1.059 billion to the Ghana Revenue Authority (GRA) and GH¢159.4 million to the regulators, National Communications Authority (NCA) and Ghana Investment Fund for Electronic Communications (GIFEC).
GH¢3.5bn taxes paid in 5 years.
This brings the total taxes MTN has paid between 2013 and 2017 to GH¢3.515 billion.
$144 million capital expenditure for 2018

 Head of Central and Western Regional Technical Services, Mr Teddy Hayford-Acquah, revealed his outfit will  collaborate with the  Ghana Investment Fund for Electronic Communications (GIFEC) to ensure Mobile telecommunication service coverage is extended  to cover rural communities in the  Rural Telephony project which aims to ensure universal telecom coverage across the country, with particular regard to extending connectivity to rural areas.

This will ensure you can make calls on your travels without any drop in reception on the way. Example is traveling from Accra to Cape Coast to Takoradi among others.

Commenting on the merger of Airtel and Tigo, he responded not surprised, but rather predicted that Ghanaians should expect such mergers in the near future since the market cannot accommodate the number of telcos in the country.

Source: Kweku Bee Abrante/Ghananewsalert.com

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