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MTN Ghana hits 11.6 million active mobile money wallets

Approximate reading time: 2 minutes

Ghana’s leading telecommunications network, MTN Ghana has hit a record 11.6 million registered mobile money wallets which currently represents a 93.9% market share of the mobile money float.

MTN Mobile Money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone. The service is offered by MTN in partnership with over 10 partner banks.

The company also leads in Ghana’s Mobile Voice with 17.8 million subscribers representing 47.6% of the market share as well as Mobile Data of 12 million active subscribers, representing a 56.5% market share.

These were disclosed by the VP SEAGHA and Chief Executive Officer of MTN Ghana Ebenezer Asante, on Tuesday when the company launched its Initial Public Offer seeking to float shares to Ghanaians over the next two months.

According to Mr. Asante, since 2013, the company had built a track record of translating significant investment into strong financial performance with 18% annual revenue growth; 39.2% average EBITDA margins; 39.3% average return on equity; and 56.2% of net profit, on average, paid out as dividends to shareholders (dividend payout).

For the first time in the history of Ghana applicants can simply use the MTN Mobile Money platform to buy the shares and trade them anywhere in Africa or the world over.

This channel demonstrates another use case for Mobile Money and will accelerate financial inclusion in the capital markets of Ghana, for many people in the length and breadth of this countrywho would not ordinarily have access to the capital markets.

“Our excitement is rooted in the fact that Ghanaians, by investing in MTN Ghana, will benefit (and share our risks) as we maintain our track record of investing in our business, focusing on high growth opportunities and delivering attractive financial returns, double-digit revenue, strong profit margins and a dividend payout target of 60.00%, to our shareholders,” he said.

Mr. Asante commended government and the good people of Ghana for the great support given to MTN’s business so far.

Mr. Asante further revealed that MTN is seeking to give Ghanaians that unique opportunity to own a share of MTN.

“I am excited to state that the public share offer of MTN Ghana begins Tuesday 29th May and will end on July 31st 2018 at 5pm. The entire offer period is for two months after which the allotment will begin. We are hoping that by September we would have ended the entire process for listing to begin.”

He urged interested applicants to contact the receiving banks or visit any of the MTN Branches.

Source:  Modern Ghana

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