Telecom gaint, MTN, has given the firm assurance of investing more in Ghana despite the current economic environment.

Speaking at a media engagement in Accra, visiting Group Chief Executive of MTN, Ralph Mupita said his outfit has taken the decision because of Ghana’s role in the group and return on investments.

He added that “we want to have a sustained investment programme so that in a market like Ghana, every Ghanaian has the capacity to enjoy the benefits of a modern connected life. And we are not changing view.”

“So if we are true to that vision, then we must sustain the CAPEX [Capital Expenditure]; and therefore we are not going to review that commitment when it comes to investment in Ghana,” he explained.

There are fears that due to the current challenges facing the economy which has resulted in inflation hitting 23.6% in April 2022 as well as rising taxes on the company’s operations, MTN might have reviewed its capital expenditure.    

But the Group Chief Executive of MTN said otherwise, saying, it’s committed to aligning itself to a programme like the Ghana Cares initiative by the Government of Ghana.

MTN and the E-Levy

On the tax on Electronic Transfers popularly known as E-Levy, the Group Chief Executive said, for now, MTN sees it as a burden-sharing with government in terms of addressing the current challenges facing the economy.

Mr. Mupita, however, pointed out that it’s too early to find out the impact of the E-levy on its operations, but can only do so in six months’ time.

Localisation of MTN 

The Group Chief Executive of MTN intimated his outfit is committed to increasing the stake that Ghanaians can hold in MTN Ghana.

MTN, in 2018, issued about 12.5% of its shares to the public.

But presently, the investing public hold about 23.7% stake in the telecom giant.

“We are looking to offload about 30% and we’ve made a lot of progress on that. 30% is the target and that is the commitment as group.”

The Group CEO added that as a company “we want more and more Ghanaians to enjoy and participate in the economic success of Ghanaians and the business.”