MTN tops them all on Ghana Stock Exchange

MTN Ghana’s performance on the Ghana Stock Exchange (GSE) this year has been nothing short of excellent, accounting for a whopping 86% of volume of trade and 77% the total value of trade on the bourse as of 18 May 2021.

Per the actual figures available to Techgh24, trade volumes on the bourse over the period was 256,053,128, out of which MTN stocks commanded a whopping 220,114,42, while the total value of trade over the period stood at GHS222.6 million, with MTN stocks alone accounting for close to GHS171. 7 million.

This year alone, the company’s share price has gained 49 pesewas, increasing return on shares by 76.6% year to date.

The Managing Director of GSE, Ekow Afedzi disclosed this when the MTN Group President and CEO, Ralph Mupita paid a courtesy call on him as part of his three-day working visit to Ghana, which is one of the most important markets for MTN.

Ralph Mupita used the opportunity to get a first-hand account of the performance of MTN Ghana shares since the Initial Public Offer (IPO) in 2018.

The GSE Boss applauded MTN Ghana’s stellar performance, saying that MTN is the most liquid and driver of liquidity on the market right now.

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MTN Ghana listed on the Ghana Stock Exchange in 2018 and is the third largest company by market capitalization, accounting for some 23% of the total market capitalization of the listings on the bourse.

Ralph Mupita saluted GSE for its role in the ‘Ghana Cares’ national socio-economic priorities by deepening the capital markets in Ghana to support that initiative.

We are encouraged by the progress we have seen in the development and deepening of the capital markets in Ghana”, Mupita said, adding that “capital formation and capital markets are critical in economic development of countries. We salute the ‘Ghana Cares’ national socio-economic priorities that is going to be critical to Ghana’s development going forward”.

He expressed his gratitude to GSE for the support MTN Ghana had received since its listing on the bourse, saying “On behalf of the MTN Group we would like to thank the GSE for the support we have received since listing in September 2018.”

MTN Ghana Performance

MTN Ghana is one of the key markets for the MTN Group. Indeed, it was among the top three drivers of the group’s resounding performance for Q1 this year.

MTN Ghana recorded some 22.4 per cent growth in service revenue for the period, followed by Nigeria with 17.2 per cent and the South Africa with 11.8 per cent.

It also chalked an impressive 40.4 per cent growth in data revenue year on year, driven by a 4.4% increase in active data subscribers and higher number of smartphones on the network and an increase in data traffic. In effect, data revenue contribution to service revenue increased from 26.5% to 30.4% year on year.

Meanwhile, mobile money revenue also grew at 48.4% year on year, driven largely by 1.2% growth in active users, higher person to person transactions and growth in advanced services such as retail merchant payments, insurance and international remittances. The contribution of mobile money to service revenue increased from 19.4% to 23.5% year on year.

Again, Q1 this year, African Financials listed MTN Ghana among the top ten companies in West Africa by market capitalization. MTN Ghana was at number seven, with a market capitalization of US$1.806 billion, posting a dividend yield of 9.4 per cent and a 41.8 percent return on equity (ROE) over the last 12 months.

 

The MTN Group CEO was accompanied on his visit to the GSE by the Vice President for MTN WECA Region, Ebenezer Twum Asante, Chief Enterprise Business Officer, Sam Addo representing Selorm Adadevoh Chief Executive Officer, and the Chief Corporate Services Officer, Samuel Koranteng.