General Manager (GM) of MTN Ghana, Sam Addo, has entreated all Ghanaians to endeavour to invest in the company now that the Initial Public Offer (IPO) has been launched.
Mr Addo was speaking during the Eastern regional launch of MTN’s Initial Public Offer (IPO) in Koforidua. This was after successful launches in Accra, Kumasi, Sunyani Takoradi and Wa last week.
He said MTN has enjoyed great support in the region, which has contributed, in no small way, to make their business successful. And with last Tuesday’s launch, the company has made history as the first telcom to be listed on the Ghana Stock Exchange (GSE).
“MTN starting from 1996 when Scancom made history by being the first company to introduce GSM technology in Ghana. Upon acquisition of the company in 2006, MTN inherited 2.5 million subscribers and quickly achieved the 10 millionth subscriber milestone within 5 years. Today, we have over 17 million subscribers with about 1.034 coming from this region,” he recounted
The company has continued to lead the way with many more firsts in Ghana. First in attaining national coverage in all 10 regions and first to launch 3G, Mobile Money, Corporate Social Investment (CSI) Foundation and nationwide 4G Mobile service, just to name a few, he said.
“We have more than 200,000 retailers and our Mobile Money service has contributed significantly to employment creation with jobs for over 100,000 merchant points across the country who received a total of about 50 million USD (GHS226M) as commission in 2017.”
MTN paid a total of GH₵1.059 billion as taxes for the year 2017. Out of our profits the MTN Ghana Foundation is well-resourced to continue to invest in the areas of health, education and economic empowerment, he added.
“In the area of technology, we continue to invest in our services as we work closely with our technology partners. Quite recently, our world-class rural solution has been recognised by the GSMA at the recent Mobile World Congress in Barcelona and adjudged “Best Mobile Innovation in Emerging Markets,” he stressed.
“Specifically, in the Eastern Region, we had 196 3G sites and 45 4G sites at the end of last year. This year, an additional 46 3G sites and four 4G sites are being deployed, further underlining how important the region is and indeed our quest to make our customers lives a whole lot brighter. All these have led to a significant progress in smartphone growth, which contributed to increasing our data revenues and usage. This year, we have earmarked $144 million as investment in CAPEX only.”
The recipe for our success is also anchored around our BRIGHT strategy. The Strategy in brief is cast in acronym BRIGHT: Best customer experience; Returns and efficiency focus; Ignite commercial performance, he added.
According to him, since 2013, MTN has built a track record of translating significant investment into strong financial performance: 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).
The MTN, public share offer that began on Tuesday, 29 May, 2018 and will end on July 31, 2018 at 5pm,entire offer period is for two months after which the allotment will begin. And by September the entire process would have ended, for listing to begin, he stated.
Mr Addo also said that shares can be bought through Mobile Money which is indicative of the fact that it is the first time that Mobile Money will be used to buy shares in an IPO (and subsequently trade them) anywhere in Africa or the world over.
Story: Business Desk