MTN to invest in digital financial services in Ghana

MTN Ghana will invest in the infrastructure of digital and financial services in order to further accelerate the company’s growth. Currently, MTN Ghana maintains market leadership with 55.2 percent share in the competitive telecommunication industry and seeks to invest about $130 million this year to expand infrastructure.

Mr Selorm Adadevoh, Chief Executive Officer of MTN Ghana said that the company would continue to stick to the drivers of growth, including data, digital, including rich media services and mobile money, enterprise business and wholesale business to drive profit.

“We are upbeat about our compelling investment case as we continue to maintain a strong position in our market with strong revenue growth and leadership in core service delivery,” he said.

Mobile Money revenue continued to grow strongly up 28.0 percent year-on year, attributable to an increase in the number of active subscribers, increased transactional activity of person-to-person (P2P) transactions as well as good growth in more advanced services, such as retail merchant payments and international remittances.