……Revenue exceeds GH₵ 5bln mark
Telecommunication giant MTN Ghana has reported a strong performance in the first quarter (Q1) of 2025, culminating in a profit after tax of GH₵1.7 billion, or a 53.7 percent increase compared with GH₵1.11 billion for the same period in 2024, according to a release by the company.
The report released by the Ghana Stock Exchange (GSE), indicated that MTN’s Q1 2025 strong performance was amid the prevailing macroeconomic challenges in Ghana, including high inflation and currency depreciation.
It said the sterling financial performance reflects the company’s robust operational strategies and commitment to efficiency.
Overall service revenue growth from our connectivity and fintech business was supported by subscriber acquisition and our use of AI in Customer Value Management (CVM) initiatives, which helped improve user experience across our service offerings, added the report.
The company recorded overall revenue of about GH₵ ₵5.4 billion, representing a 39.4 percent increase for the first quarter of 2025 compared to GH₵ 3.84 billion for the same period last year.
Service revenue also increased by 39.6 percent to about GH₵5.35 billion compared to GH₵3.83 billion recorded for the same period last year. Total profit before tax stood at GH₵2.4 billion compared with GH₵1.59 billion for the same period in 2024.
The telecom giant also reported a total capital expenditure of GH₵1.2 billion for the period between January and 31st March, 2025, almost similar to what it spent for the same period last year.
MTN Ghana chief executive officer (CEO) Stephen Blewett said the performance was due to strategic initiatives and investments across key business lines such as data, digital services, voice communications, and Mobile Money.
“The first quarter of 2025 was characterised by solid execution of our commercial strategy, culminating in a 5.2 percent expansion of our subscriber base and a 39.6 percent increase in service revenue,” Blewett stated.