MTN Ghana’s share price reached a record high of GH₵3.21 on Tuesday May 6, 2025, due to the surge in investor confidence following strong first-quarter earnings and an announced restructuring of its mobile money business.
According to the capital market analyses by Daily Graphic, the share price rose by 0.02 pesewas during trading on the Ghana Stock Exchange (GSE), eclipsing its previous high of GH₵3.20 recorded on March 27, 2025.
It added that trading volume for the day stood at 236,536 shares, continuing a positive run for the telecoms giant after a 0.07 pesewa gain on Monday.
The report noted that the rise follows MTN Ghana’s announcement of a major corporate restructuring and the release of robust financial results for Q1 2025, which showed a 53.7 per cent year-on-year increase in profit after tax to GH₵1.7 billion, despite ongoing macroeconomic headwinds.
“This performance reflects solid execution of our commercial strategy and sustained demand across key segments,” said Stephen Blewett, Chief Executive Officer of MTN Ghana.
“We have made significant strides in fintech, digital, data and voice services, supported by our continued investment in network expansion.”
The company, officially listed as Scancom PLC, reported service revenue of GHS5.4 billion—up 39.6 per cent from the previous year—driven by a surge in data usage, mobile money transactions and digital service uptake.
Active data subscribers grew by 10.8 per cent to 17.8 million, while mobile subscribers reached 29.2 million, a 5.2 per cent increase. MTN’s Mobile Money (MoMo) platform also saw an 11.5% rise in active users to 17.4 million. MoMo revenue soared by 53.1 per cent to GH₵1.3 billion, powered by higher transaction volumes and expanded services such as digital payments and micro-lending.
Data revenue climbed 54.9 per cent to GH₵2.8 billion, with average monthly data usage per user increasing by 39.7%. Data now accounts for 52.6 per cent of total service revenue, up from 47.4 per cent in Q1 2024. Voice revenue rose modestly by 6.2 per cent to GH₵951 million, while digital services revenue saw a sharp 65.4 per cent growth, boosted by streaming, gaming, and personalised content, with digital users reaching 5.3 million.
MTN’s earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 45 per cent to GH₵3.1 billion, with an improved EBITDA margin of 58.1 per cent. Earnings per share jumped from GH₵0.084 to GH₵0.1292.
Capital expenditure during the quarter stood at GH₵1.2 billion, including GH₵779.5 million (excluding leases) allocated to 4G expansion, IT system upgrades and enhancing network resilience. MTN now covers 99.3 per cent of Ghana’s population with 4G service.
The report added that the financial growth was achieved despite challenging conditions—Ghana recorded average inflation of 23.0 per cent in the first quarter, and the cedi depreciated by 17.1 per cent against the US dollar. MTN Ghana mitigated some of these effects through careful debt management and returns from fixed-income investments.
GIK/APA