MTN Ghana Reports Robust Growth, Approves High Dividend for Financial Year 2025

Scancom PLC (MTN Ghana) has held its 8th Annual General Meeting (AGM), reporting strong financial and operational results for the 2025 financial year while securing shareholder approval for key corporate decisions.

The meeting, held at the University of Professional Studies, Accra (UPSA) Auditorium, brought together shareholders, board members, and management to review the company’s performance, strategic direction, and initiatives aimed at driving sustainable growth.

Shareholders Approve Results, Dividends
Shareholders adopted the audited financial statements for the year ended December 31, 2025, and approved the declaration of a final dividend. The move underscores MTN Ghana’s continued commitment to delivering value to investors, reflecting confidence in the company’s operational efficiency and financial stability.

Board Retains Key Directors
The shareholders also re-elected board members Ishmael Yamson, Antoinette Kwofie, Kofi Dadzie, and Felix Addo, who retired by rotation. They approved directors’ fees for 2026, authorized the Board to determine auditors’ remuneration, and endorsed a revised Non-Executive Directors’ Fee Policy, reaffirming their support for strong governance practices.

CEO Highlights Strong Growth Year
Chief Executive Officer Stephen Blewett described 2025 as a year of robust growth driven by effective execution and an improving macroeconomic environment.

Service revenue rose 36.2% year-on-year to GH¢24.4 billion, while profit after tax jumped 55.9% to GH¢7.8 billion. The company invested approximately GH¢4.6 billion in capital expenditure to strengthen network infrastructure, expand coverage, and enhance service quality, positioning MTN Ghana to meet growing consumer and enterprise demands.

Data, Digital, and MoMo Drive Revenue Surge
The company recorded significant growth in data, digital, and mobile financial services. Data revenue increased by 48.8% to GH¢13.4 billion, while digital revenue more than doubled to GH¢479 million. Mobile money services continued their upward trajectory, with active users reaching 19.3 million, highlighting the expanding adoption of digital financial solutions in Ghana.

Board Chairman Cites Improved Economic Conditions
Board Chairman Ishmael Yamson of MTN Ghana attributed the company’s performance to strong execution and a more stable economic environment, including easing inflation and a stronger local currency.

He emphasized MTN Ghana’s commitment to strengthening its corporate governance framework while advancing environmental, social, and governance (ESG) initiatives. The company increased its use of renewable energy, sourcing about six percent of its power from solar, and expanded digital inclusion programs to underserved communities.

Dividend Payout Hits 81% of Profit
The Board recommended a final dividend of 40 pesewas per share, bringing the total dividend for 2025 to 48 pesewas per share—representing approximately 81% of profit after tax. This high payout reflects the company’s strong financial position and commitment to rewarding shareholders.

CFO Explains Dividend Strategy
The Chief Finance Officer of MTN Ghana Antoinette Kwofie said the company remains committed to a dividend policy of distributing between 60% and 80% of profits annually. She explained that the 81% payout for 2025 was made possible by strong operational performance and confidence in sustaining core business operations, noting that future dividends will align with prevailing economic conditions.

Rising Costs Linked to Strategic Hiring
On employee costs, Mrs. Kwofie noted that increases were largely driven by strategic hiring in high-growth areas such as fintech and home broadband, as well as the impact of employee share option schemes following a substantial appreciation in MTN Ghana’s share price.

Stronger Risk Controls, Fraud Measures
She assured shareholders that MTN Ghana continues to strengthen its risk management systems, particularly for mobile money operations, through deposit protection measures and public education campaigns aimed at mitigating fraud.

She also highlighted improvements in internal controls, including lease accounting processes, which led to adjustments and restatements in financial reporting, with measures now in place to prevent future occurrences.

GRA Audits Ongoing
Regarding tax matters, Mrs. Kwofie noted that ongoing audits by the Ghana Revenue Authority covering multiple years are at different stages, with management actively engaging authorities to resolve outstanding issues.

Outlook Remains Positive for 2026
Looking ahead, MTN Ghana remains optimistic about growth prospects in 2026, supported by a positive economic outlook and continued investments in data, digital services, and mobile financial solutions.

The AGM forms part of the company’s statutory obligations and continues to serve as a key platform for transparency, accountability, and shareholder engagement, reinforcing MTN Ghana’s position as a leading telecom and digital services provider in the country.