Shareholders of MTN Ghana have approved a total dividend of ¢1.524 billion for the 2022 financial year.

Shareholders whose names were on the register as of May 19, 2023, would qualify for the payment of the dividend.

The Shareholders by ordinary resolution also approved ¢6.139 million to be paid to eligible Non-Executive Directors of Scancom PLC subject to overruns.

The Shareholders by special resolution also approved the transfer of funds from the reserves to stated capital, and further approved that unissued shares in Scancom PLC be issued to Shareholders who validly opt to receive their pro-rata share of dividends, in the form of shares (Scrip dividend) issued at the market value of the shares on the day of declaration of the dividends.

MTN Ghana records 42.7% growth in profit in 2022 to ¢2.85bn

The leading telecommunication firm in Ghana, MTN Ghana, recorded a 42.7% year-on-year growth in profit in 2022 to ¢2.85 billion.

According to its 2022 Audited Financial Report, service revenue grew by 28.3% to ¢9.9 billion.

This was supported by good subscriber management amidst the national SIM re-registration programme, increased investment in the network and the diligent execution of commercial initiatives in voice, data and Mobile Money services.

It added 3.3 million subscribers to its subscriber base and invested ¢2.1 billion in total capital expenditure to support the modernisation of infrastructure, improve IT systems and expand network capacity and coverage across the nation.

Also, earnings before interest, tax, depreciation and amortization (EBITDA) increased by 30.9% to ¢5.6 billion.