MTN Ghana earns GH¢1.2b revenue, spends GH¢720m in 2011

MTN Ghana, a unit of Africa’s largest mobile operator, the MTN Group, spent an amount of GH¢720 million on its operations in the country and made a revenue of GH¢1.277 billion in the year 2011, according to the Group’s financial year results released today March 7, 2012.

The Ghanaian subsidiary spent GH¢371 million and GH¢419 million during the first and second half of the year respectively, accumulating to GH¢720 million which was 11.6% up against the 2010 expenditure of GH¢616 million.

Given the breakdown of the GH¢1.277 billion revenue it had during the year, the financial results show that the company earned GH¢600 million in the first half year while in the second-half it recorded an amount of GH¢677 million as revenue.

Even though the company recorded a marginal loss in the market share in Ghana, MTN said it had a “sound performance” with attractive bonus promotions driving the suit. Its total revenue generating minutes was up 16.0%

According to the results, airtime and subscription was also up 13.9% with “interconnect up 35.1%, competitive offnet tariffs”.

Good data growth was up 79.7%, it added, indicating that “SMS growth down 43.4% due to regulatory requirements.”

Effective tariff also went down 2.4%, it noted.

As at the end of December 2011, MTN Ghana recorded 10,156 million subscribers.

The Group’s subscribers went up 16.2% to 164,5 million. Group revenue was up 9.7% to R121,884 million.

By Ekow Quandzie

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