Telecommunications giant, MTN Ghana, is blaming challenges regarding its share price to external issues rather than the company’s performance.
The share price of the company has dropped significantly from a listing price of 75 pesewas per share to 59 pesewas per share.
Chief Executive, Selorm Adadevoh, who disclosed this during a virtual meeting said his outfit is hopeful the company will be stable and investor confidence will soar, culminating in an increase in its stock price.
He further said, “the number of external factors that also drive the stock price, how the economy is doing, concerns around what the future of the economy looks like, where the business is going, they are all different types of factors that drive this”.
“If you look at the amount of investor attention we got from our declaration as SMP as well, you will notice that people are varying data or information as far as Ghana is concerned”, he pointed out.
He explained that “management of the company can guarantee that they will continue to drive the business forward, continue to see robust performance and will continue to deliver on their objective and plans”.
MTN Ghana controls more than 50% of the telecom market share in terms of voice and over 70% in terms of data.