MTN Ghana has declared a profit after tax of GH¢1.4 billion for the 2020 financial year.

Subsequently, the biggest and most successful telecoms company in the country announced an amount of 8Gp per share after approving a dividend payout of GH¢614.5 million.

This represents 70.49 per cent of its profit for the year in review.

The Chief Executive Officer of MTN Ghana, Mr Selorm Adadevoh, announced this yesterday at the 3rd annual general meeting (AGM) of the company since it listed on the local bourse and first to be organised virtually since the outbreak of the COVID-19 pandemic.

More successes

The MTN boss said the company recorded 4.6 million new customers in 2020 taking its total subscriber base to 24.4 million.

This achievement, he explained, was in spite of the devastating impact of the COVID-19 pandemic which sent many businesses to their knees.

In the same period under review, Mr Adadevoh said MTN also recorded some 2.6 million increases in data customers, and 1.5 million rise in mobile money customers, bringing to 10.6 million, the total number of mobile money customers.

These successes contributed to the 16.4 per cent growth in service revenue over the period, after the GH¢1.5 billion capital expenditure in network capacity improvement.

Mr Adadevoh said in line with the company’s vision to become a data operator by 2023, the company saw a clear growth in data and mobile money contributions to service revenue, while voice contribution to service revenue declined.

According to him, the shift in consumer behaviour due to COVID-19 also led to a 328 per cent surge on MyMTN and Ayoba usage, particularly for gaming and other digital purposes.