MTN Ghana has posted a profit after tax of GHS1.7 billion in Q1 2025, up 53.7% from last year.
Despite high inflation and currency depreciation, MTN Ghana achieved robust growth across all key business segments.
The telecom giant, Scancom PLC, reported Q1 2025 service revenue of GHS5.4 billion, a 39.6% year-on-year increase.
Strong demand for data, digital services, MoMo, and network expansion boosted the company’s performance.
CEO Stephen Blewett credited the success to effectively executing MTN Ghana’s commercial strategy.
He said strategic initiatives across data, voice, fintech, and digital services supported resilient growth in a tough economy.
Active data subscribers rose 10.8%, reaching 17.8 million, while mobile subscribers grew 5.2% to 29.2 million.
MoMo users increased 11.5% to 17.4 million, with revenue jumping 53.1% to GHS1.3 billion.
Higher transaction volumes and advanced digital services powered MoMo’s strong revenue growth.
Data revenue surged 54.9% to GHS2.8 billion, driven by a 39.7% increase in monthly data usage per user.
Data now accounts for 52.6% of service revenue, up from 47.4% a year ago.
Voice revenue grew 6.2% to GHS951 million, despite customer migration to data-based calling.
Digital services revenue rose 65.4%, supported by gaming, streaming, and personalised content.
MTN Ghana now has 5.3 million active digital users, reflecting rising engagement.
EBITDA increased 45.0% to GHS3.1 billion, with the EBITDA margin improving to 58.1%.
Earnings per share climbed from GHS0.084 to GHS0.1292.
Total capital expenditure hit GHS1.2 billion, with GHS779.5 million allocated to key network upgrades.
MTN Ghana now covers 99.3% of the population with 4G services nationwide.
Q1 saw average inflation of 23.0% and a 17.1% depreciation of the cedi against the dollar.
Still, MTN Ghana lowered net finance costs through prudent debt management and fixed-income returns.
The April 2025 repeal of the E-Levy is expected to boost MoMo usage and financial inclusion.
MTN Ghana updated its systems to align with the policy change and enhance user experience.
The MTN Ghana Foundation launched a 40-seat ICT centre at Yilo Krobo SHS in Q1.
It also awarded 500 STEM scholarships and donated 6,000 units of blood nationwide.
Support was extended to 200 micro and small businesses, focusing on women, youth, and persons with disabilities.
A major Q1 milestone was a national roaming agreement signed with Telecel.
The agreement builds on a 2022 pilot and will enhance network access across Ghana.
MTN Ghana revised its medium-term service revenue growth target to the low-to-mid-thirties range.
The company aims to maintain EBITDA margins in the mid-fifties going forward.
MTN Ghana remains committed to its Ambition 2025 strategy focused on cost-efficiency and platform expansion.
