MTN holds AGM, declares dividend of 12.4 pesewas per share
MTN Ghana has held its 5th Annual General Meeting (AGM) on May 30th 2023. Updating shareholders on the company’s performance for the year 2022 at the AGM, the Board Chairman, Dr. Ishmael E. Yamson, indicated that MTN Ghana’s performance for 2022 was strong with a total revenue growth of 28.4% Year-on-Year underpinned by good execution of the commercial strategy by management, resulting in growth in voice, data and Mobile Money (MoMo) revenues. “MTN is committed to improving the lives of Ghanaians through appropriate and sustainable socioeconomic interventions. Over and above the investment in MTN’s network and IT systems, the organisation allocated ¢28.3 million to undertake health, education and economic empowerment projects in 2022 through the MTN Ghana Foundation,” Dr. Yamson indicated. At the AGM, a dividend of 12.4 pesewas on ordinary shares was approved and will be paid to all shareholders on 22 June 2023. This brings the total dividend for the 2022 financial year to 16.4 pesewas per share following the interim dividend of 4.0 pesewas per share paid on 22 September 2022. This represents 70.6% of profit after tax and a 42.6% Year-over-Year (YoY) increase in dividend per share paid in 2022 over 2021. Speaking at the AGM, the Chief Executive Officer of MTN Ghana, Selorm Adadevoh enumerated MTN’s commitment to driving growth and unlocking value for all stakeholders through its Ambition 2025 strategy. He said, “We are confident in the medium to long-term prospects of Ghana’s economy and as such, MTN commits to continue to invest efficiently in infrastructure and to improve the capacity and quality of connectivity and other related services for our customers.” Touching on MTN’s digital initiatives, Mr. Adadevoh said “MTN will continue to lead the adoption of new innovative solutions that solve relevant problems for Ghanaians. MTN will deepen the ongoing work to improve its platforms, particularly MyMTN and Ayoba Apps, as well as MoMo as part of MTN’s three-app strategy to enhance customer choice, customer experience and to deliver on MTN’s commitment of excellence to its cherished customers”. “The communities we operate in remain core to everything we do and to this end, MTN continues to extend various sustainable projects and initiatives to improve communities across the country with a focus on building and growing digital skills among the youth, with a particular focus on females”, Mr. Adadevoh stated. Since its listing on the Ghana Stock Exchange (GSE) in 2018, the company remains the organisation with the largest number of Ghanaian shareholders. Apexnewsgh.com/Ghana Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062
MTN Ghana gives special treat to mothers on Mothers’ Day
MTN Ghana gave a special treat to over 500 women across the country as part of activities to mark this year’s Mothers’ Day celebrations. A number of mothers were treated to the MTN Movie Mania experience at the Golden Eagle Cinema in Kumasi. Other mothers received gift items such as electronic vouchers from Max Mart and Melcom to shop online. The celebration continues on May 19, 2023, with the premiere of the ‘Fast and Furious’ movie at the Silver Bird Cinema at Accra Mall. Commenting on the celebrations, the Senior Manager for Consumer Marketing at MTN Ghana, Mrs. Nana Asantewaa Amegashie, said, “Mothers occupy a special place in the family system, working to ensure that families are well nurtured for the benefit of the entire society. “As the biggest family in Ghana, MTN decided to use the Mother’s Day occasion to allow mothers to take a break from their daily activities, have some fun and enjoy some gifts. We celebrate mothers for their priceless contributions that have contributed to the growth of the MTN brand”. The beneficiaries of this year’s celebrations expressed their gratitude to MTN for being thoughtful, and for recognising them not just as customers but as mothers making significant contributions to the development of Ghana. They congratulated MTN for its achievements over the years and especially for their Loyalty Schemes that have kept customers happy. The MTN Movie Mania is one of the innovative programs that MTN introduced 9 years ago to reward high-value customers for their brand loyalty. It provides customers with free tickets to watch movies at the Silver Bird Cinema at the Accra Mall. Mother’s Day is an occasion that is observed every second week in May in many parts of the world to show appreciation and affection to mothers. The occasion is meant to recognize the contribution of mothers to society, the nurturing and care they give to their children, and other important social roles they play. For several years, MTN has selected some mothers on its network and celebrated them with various special offers as part of the Mother’s Day celebrations. Source: Apexnewsgh.com/Ghana For publication please kindly contact us on 0256336062 or Email apexnewsgh@gmail.com
SCANCOM PLC Appoints Adwoa Afriyie Wiafe As Chief Corporate Services And Sustainability Officer
MTN Ghana has appointed Adwoa Afriyie Wiafe as Chief Corporate Services and Sustainability Officer (CCSSO) effective 1stMay 2023. In her role, Adwoa will have oversight responsibility for the Corporate Services function focusing on Regulatory Affairs, Sustainability, Corporate Communications and Commercial Legal departments. She will also serve on the MTN Ghana Foundation Board as Executive Director for the Foundation. Commenting on her appointment, the Chief Executive Officer of MTN Ghana, Selorm Adadevoh said “I am excited about the appointment of Adwoa Afriyie Wiafe and wish to use this opportunity to warmly welcome her to the Y’ello family. With her rich experience in the corporate space over the years, I am confident that Adwoa will fully support MTN’s sustainability initiatives which is a new dimension of the business to realize MTN’s Ambition 2025. Adwoa joins MTN from the Ghana National Petroleum Corporation (GNPC), where she was a member of the Executive team with overall responsibility for Legal and Compliance and Regulatory Affairs. In her role at GNPC, she represented GNPC before regulatory bodies, led the negotiation of major transactions, participated in the review of legislation, and served on various inter-governmental teams on petroleum industry related matters. Prior to GNPC, Adwoa worked at the International Criminal Court, The Hague, Netherlands; Saah & Partners, Ghana; and The Special Court for Sierra Leone, a United Nations ad hoc war crimes court and has also consulted for the United Nations Mission in Liberia. She is currently an adjunct Lecturer for the LLM/MA in Energy Law program at the University of Ghana School of Law, Legon and has contributed to papers and publications at the national and international level. Adwoa holds a Master of Law degree (LLM) from the Harvard Law School, Cambridge, Massachusetts, USA; Bachelor of Civil Law (BCL) from St. Hugh’s College, Oxford University, UK; Qualifying Certificate in Law (QCL) from Ghana School of Law and a Bachelor of Law from the University of Ghana, Legon. Source: Apexnewsgh.com/Ghana For publication please kindly contact us on 0256336062 or Email apexnewsgh@gmail.com
MTN considering the revise of data zone bundle as soon as possible
MTN Ghana, the leading Ghana’s telecommunication has hinted, they are engaging and collaborating with the Regulator, to seek alignment on a revised Data Zone bundle to be reinstated as soon as possible. This was made clear in a statement issued Wednesday, April 12, 2023. Read the statement below: MTN GHANA SUSPENDS MTN DATA ZONE BUNDLE Accra, April 12, 2023, Scancom PLC (MTN Ghana) has announced a suspension of its MTN Data Zone bundle effective April 05, 2023. We apologize to our cherished customers for limiting our communications on this matter to service activation channels only. This media release is to provide more information on the issue. The suspension of the innovative Data Zone bundle is due to a review of the bundle offer in line with the Significant Market Power (SMP) directives applied to MTN Ghana in June 2020, not to be the lowest priced on any offer in the industry. We are currently engaging and collaborating with the Regulator, as we seek alignment on a revised Data Zone bundle to be reinstated as soon as possible. We will notify you in due course of further developments. Data Zone bundle is an innovation by MTN Ghana that gives customers a 1-day validity bundle at discounted rates at the point of purchase. Subscription is through the Short Code 135. MTN Ghana would like to reassure its customers that it would continue to roll out innovative and affordable products and services for the benefit of its cherished customers. Source: Apexnewsgh.com/Ghana For publication please kindly contact us on 0256336062 or Email apexnewsgh@gmail.com
MTN cuts sod for $25m ‘Ghana ICT Hub’
Ghana’s biggest telecommunications network, MTN Ghana, has cut sod for the construction of a $25 million ‘Ghana ICT Hub’ at the Accra Digital Centre. The ‘Ghana ICT Hub’ aims to develop an ICT ecosystem in the areas of health, agriculture and education through on-site and remote access delivery to facilitate skills development and job creation for the youth in Ghana. When completed, the Hub will consist of a physical infrastructure designed to provide 4,000 square meters of space with ancillary facilities and unique features. The Ghana ICT Hub is expected to be completed in approximately 18 months from when construction begins. The sod cutting ceremony forms part of MTN’s fulfilment of a promise to support Ghana’s digitalization agenda during its 25th anniversary celebrations in 2021. Chief Executive Officer (CEO) of MTN Ghana, Selorm Adadevoh, stated that the project is to support innovation and new tech start-ups to drive the growth of the Ghana ICT ecosystem. He said that when completed, the ‘Ghana ICT Hub’ is expected to train over 200,000 youth in ICT and digital skills and generate more than 100,000 jobs within the first three years. He added that the Hub will be an ultra-modern office facility, providing office spaces and meeting venues for more than 100 tech companies that will incubate new ideas and innovations, driving the start-up buzz in the hub after completion. “The establishment of the Ghana ICT Hub will help build the future we want for our youth and foster new sources of economic growth for Ghana,” he stressed. The CEO of MTN Ghana indicated that as the world continues to evolve, it is important for Ghana’s youth to be equipped with ICT and digital skills to stay relevant and competitive, especially within the region when one thinks of the establishment of the African Continental Free Trade Area (AfCFTA). “Our purpose is to prepare the youth of Ghana to have better prospects succeeding and competing in the global digital economy,” he noted. He mentioned that MTN’s dream is to transform Ghana through ICT enablement. He explained that “The Ghana ICT Hub project is only a small part of a broader project called the ‘Ghana Innovation Hub’ project”. According to Mr. Adadevoh, there are three pillars under the “Ghana Innovation Hub” project, which are the Ghana ICT Hub, the Accra Innovation City Project and the Ghana Education Platform project. “We believe in playing our part in Africa’s transformation and this investment is directly in line with that belief,” he added. Board Chairman of the MTN Ghana Board, Dr. Ishmael Yamson, said that the board is excited about the impact the projects will have on the youth and what it means for job creation, innovation and Ghana’s competitiveness in the Sub-region. “Beyond that, there is no doubt that we are already exposed to the global marketplace and competition for skills and talent; with the advent of remote work, we stand to be counted if our youth are skilled in the relevant technologies such as coding, AI and Robotics, and have a place to put their learnings to practice,” he explained. The Minister for Communication and Digitalization, Ursula Owusu-Ekuful, expressed Government’s gratitude to the MTN Group and its leadership for their kind gesture, adding that they have become a model for emulation. “I must say that your continuous commitment, partnerships, and efforts to be at the frontier of championing digital innovations in Ghana is extremely commendable,” she said. The Minister stated the ICT hub will facilitate the paradigm shift needed to accelerate Ghana’s progress with the 2030 Agenda and the Sustainable Development Goals. She mentioned that the ICT hub will complement Ghana Digital Centres Limited’s focus on a nationwide network of digital transformation centres and interventions nurturing new businesses. “I believe this edifice will significantly deepen Ghana’s current digital strides to reposition Ghana’s image within the sub-region and the continent” she added.
MTN Ghana commemorates IWD with coaching and mentorship session
Female employees of MTN Ghana in celebrating this year’s International Women’s Day had a session with Professional Leadership Development Consultants Doreen Baffoe and Jennifer Agyeman. The event dubbed ‘Lunch and Learn’ came off at the MTN House in Accra. In line with the theme for this year’s celebration, ‘DigitALL Innovation and Technology for Gender Equality by Embracing Equity and Support Systems to Succeed’, the guest speakers shared insights on the art of storytelling and communication. They also shared the essence of leveraging mentors and coaches in the workplace to enhance one’s careers. The Chief Human Resource Officer of MTN Ghana, Amma Benneh-Amponsah said that several initiatives have been implemented by MTN Ghana to create equity, diversity, and inclusion. She said, “We have support from MTN Group to launch programs that opens us up from a talent support perspective to reach other women across MTN Group. “We have launched a program called “Women@Work”, which is system-based and allows staff to identify females across MTN Group and select them as mentors, sponsors and coaches. “The ‘Women@Work’ program complements MTN’s existing in-house STIR Mentoring Program.” Some selected employees were given the platform to share their experiences under the STIR Mentoring program and how it has helped their career and personal development. They encouraged all staff to take advantage of the programs. MTN employees in Ghana closed the day with a ‘Sip and Groove’ networking party across all their footprints in Ghana.
MTN Ghana Foundation kick start blood donation exercise after 2years break
MTN Ghana Foundation in the Upper as part of their annual Valentine activity has organized a blood donation exercise in the Upper East Region. The MTN blood donation target is to stock the Bolgatanga Regional Hospital blood bank in other to save lives. In the Upper East Region, this year’s exercise which took place at Bolgatanga Gnat hall saw the majority of the people participating in the donation exercise. Speaking to the media, the Territory Sales Controller for the Upper East Region Mr. Richard Asamane, explained the rationale and why MTN Foundation is taking up the initiative. ” For us at MTN, we have a culture and the belief that it is always a period around time to give a part of yourself to make another person’s life brighter and also put a smile on the face of another person. You would agree with me that blood is what comes out of the human body and in a month of love and a period of love such as Valentine something from the part of your body is the greatest gift you can give to any human especially when it saves the life of that person. “You know the issues about blood and the blood bank in the Upper East and how they constantly struggle to get blood to the patient. So, for us in MTN, we think it is a perfect time for each one f everyone to struggle to donate a part of yourself to make somebody’s life brighter and to put a smile on another person”. “It has been an annual event but, over the last 2 years, we had to put a break to it because of COVID public restrictions and gathering and those issues that have to come with COVID protocols. But this year we are back”. “We are targeting 400 units of blood for the Upper East Regional blood blank”. Mr. Asamane said
Ghana Withdraws $672 Million Back-Tax Demand From MTN Group
MTN says the authorities dropped tax claim after negotiations
Several companies are disputing tax bills as Ghana seeks money
MTN Ghana marks ‘Safer Internet Day’ celebration with students of Osu Presbyterian SHS
Telecommunication giant, MTN Ghana, has joined the world to mark the 20th edition of the ‘Safer Internet Day’ celebration with students of the Osu Presbyterian Senior High School in Accra. The aim of the event is to sensitise and reorient students on the safe use of the internet for an improved cybersecurity culture. According to data by the International Telecommunication Union (ITU), in 2020 alone, 71% of the world’s youth aged between 15 and 24 years were more connected to the internet than the rest of the population. This ratio clearly indicates that there is a high likelihood that young people may become victims of cyber attacks, hence it is important for Ghanaians in general and young people in particular to learn about cyber security. Speaking to Joy Business after the event, Senior Manager for Enterprise Information Security and Governance at MTN Ghana, Jacqueline Hanson Kotei, said MTN Ghana will not relent in its efforts to raise awareness on emerging online issues and the associated strategies for resolution. “I think it’s imperative that we partner, encourage, help, lead and guide them on how to be safe on the internet. We have kids cyber bullied leading to things like suicide. So this is something that needs to be hammered over and over again”. “It’s something we are going to do the entire year. We will take the opportunity to educate the youth especially the MTN customers as well”, she added. Headmaster of the School, Vincent Esoah commended MTN for the move and passionately appeal to both the organisation and corporate Ghana to help the school with computers to support academic work. He emphasised that even though the school is ICT inclined, there is a deficit of ICT gadgets like computers, therefore the school resorts to renting computers for writing the West African Senior High School Certificate Examination. “Education is a shared responsibility and having had MTN to come to your school, we can’t but provide support, for our ICT department. We are having over 300 students doing elective ICT and we have very few computers and so we often rent computers to write WASSCE. We are appealing to MTN and other corporate bodies to support”. Some students who spoke to Joy Business expressed gratitude to MTN for the insight on Cyber security and promised to be cautious on the internet. Besides the education on cyber security, students received MTN souvenirs like T-shirts, notepads, pencil case, tablets, among others items The Safer Internet Day Celebration is organised in the second week of February each year and this year’s ceelbration was under the theme “Together for a better internet”. –myjoyonline–
SA govt urges middle-path in MTN Ghana tax dispute
The South African government is calling for a middle-path solution to MTN’s tax fallout in Ghana. International relations and cooperation minister Dr Naledi Pandor on Friday implored Africa’s largest mobile phone network operator “to work closely with the authorities in Ghana to devise a solution”. This comes after MTN was hit with a R13 billion tax assessment by the Ghana Revenue Authority (GRA) on 11 January. The revised tax assessment stems from an audit of MTN Ghana commenced by the GRA in 2019, which covered the period 2014 to 2018. Ralph Mupita, MTN Group CEO, said the objective of the audit was “to give assurance on the reliability and completeness of revenues declared by MTN Ghana for the purposes of calculating taxes”. The GRA then issued the assessment to MTN Ghana for an amount of approximately R13 billion ($773 million). This includes penalties and interest charges. The telco notes with this assessment, the GRA infers MTN Ghana under-declared its revenue by approximately 30% over the five-year period in question. The 30% is based on MTN calculations, and the company says it “strongly disputes this” and it will defend its position. MTN is questioning the accuracy and basis of the GRA’s assessment, including the methodology used in conducting the audit. “It is important to also emphasise that we believe MTN Ghana has paid its due taxes during this period under assessment,” Mupita told analysts on 16 January. MTN is now in engagements with authorities in Ghana for the temporary withdrawal of the assessment. On Friday, the South African government weighed, calling for fairness in dealing with the matter, adding it is committed to promoting increased South African investment in Ghana. “South Africa is one of the largest foreign direct investors in Ghana, mainly in mining, communication, beverages, retail and franchising, etc,” said Pandor. “These investments contribute to the Ghanaian gross domestic product (GDP) and job creation. According to the Ghana Investment Promotion Centre, there are over 100 South African companies registered and operating in Ghana, employing over 19 087 Ghanaians and 510 expatriates. Over the past 10 years, South African companies have undertaken over 170 projects in Ghana, valued in excess of $1 431 523 166 in capital investment.” Win-win cooperation The minister deplored the treatment of local businesses across Africa, saying she previously held meetings with CEOs of South African companies invested and operating on the continent. “They [CEOs] have reported an increasing number of difficulties, ranging from unfavourable market conditions and inconsistent regulatory frameworks, inconsistent tax regimes, repatriation of funds and delays in loan repayments. “Of major concern is that competitors of South African companies from other parts of the world do not appear to be subjected to the challenges South African companies are subjected to.” These unfavourable conditions, Pandor said, have led to disinvestment in some African markets by major South African companies, such as Shoprite, Game, Mr Price, Foschini, Woolworths, Tiger Brands, Sasol-Chemicals, Sasol-Gas, Group Five, Murray and Roberts, Metrolife Group, Telkom, Southern Sun and Protea Group, to name a few. “The disinvestment has had a devastating impact on employment opportunities, poverty and inequalities, in particular, and GDP growth, in general.” Pandor went on urge MTN and Ghana authorities “to do everything possible to find an amicable solution to these reported challenges”. “Our common destiny, as outlined in the Agenda 2063 aspirations, depend on win-win intra-African collaboration and cooperation.” Ghana is one of the key markets for MTN, which has operations in 19 countries and 285 million subscribers. MTN Ghana was the first telecoms provider in Ghana to list on the Ghana Stock Exchange (GSE) in 2018, and the amount raised in the initial public offering (IPO) was the highest to be raised in an IPO on the GSE. In addition, the IPO was the first in the world to use mobile financial services – MTN Mobile Money – as a medium to subscribe to shares. —itweb.co.za— For publication please kindly contact us on +233256336062 or Email apexnewsgh@gmail.com