MTN Ghana’s fiscal contribution hits $501mn in 2023

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MTN Ghana’s recent financial disclosures for the year ending December 31, 2023, underscore a significant fiscal contribution to the government, totalling $501mn.

This amount, comprising direct and indirect taxes along with various governmental fees, represents 47.1% of total revenue for the year of the local unit of the South Africa telco.

Selorm Adadevoh, CEO of MTN Ghana, emphasised the company’s commitment to national development, citing not only its substantial tax payments but also its investment in socio-economic projects.

In 2023, the MTN Ghana Foundation allocated $2.4mn toward healthcare, education, and economic enhancement, including the establishment of crucial facilities like a maternity and neonatal center and a STEM robotics lab.

Citi News reports that MTN Ghana announced collaborative efforts with the government, such as the Ghana Innovation Hub project, aligning with its broader goal of providing digital solutions for national advancement. This initiative includes a commitment of $25mn from MTN towards the hub’s development.

Financially, MTN Ghana demonstrated robust performance, with a 34.6% year-on-year growth in service revenue. The company’s strategic investments, including substantial capital expenditure and effective commercial strategies, supported this growth.

Source: Daily Mail GH

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