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Wednesday, December 6, 2023

Ghana’s Economic Challenges Won’t Change MTN’s Investment Appetite – CEO

BY: Lambert Coffie | Voltaonlinegh.com |

Despite the current turbulence facing Ghana’s economy, the country’s leading telecoms operator, MTN, has assured of continuous investment in its operations to deliver value to clients and stakeholders.

Ghana is currently under a 3-billion Dollar IMF Support Programme due to what the government described as the adverse impact of the COVID-19 pandemic and the Russia-Ukraine conflict.

Speaking at the 2023 Media and Stakeholders Engagement in the Volta Regional Capital, Ho, on Thursday, August 3, 2023, the Chief Executive Officer of MTN Ghana, Mr. Selorm Adadevoh, reaffirmed the company’s resolve to invest up to One billion Dollars (approximately 11 billion Ghana Cedis) by 2025 to maintain network leadership in the telecoms sector.

While acknowledging the impact of the current economic difficulties on the country’s investment climate, Mr. Adadevoh assured that it would not affect the investment appetite of the telecom giant.

‘In 2021, when we announced the one billion dollar investment across five years, the exchange rate was not what it is now. But we are not backing down on that target,’ the CEO stated, adding that the company was leveraging the economics of scale within the broader MTN Group to sustain the investment target.

As part of its commitment, MTN is investing 210 million Dollars (approximately 2.3 billion Ghana Cedis) in its network infrastructure expansion for 2023. This investment, the MTN Boss noted, would enhance customer experience, ensuring that everyone enjoys the benefits of a modern connected life.

Meanwhile, MTN Ghana has contributed 4 billion Ghana Cedis (approximately 363 million dollars) to government revenue mobilization through taxes, levies, and charges in 2022.

The media engagement held at the Volta Serene Hotel had in attendance other senior officials of MTN, representatives of stakeholder groups, including Security services, Road agencies, the telecoms regulator – NCA, as well as the Mayor of Ho, Mr. Divine Bosson.

Source: www.voltaonlinegh.com 

Volta Online
Volta Onlinehttps://voltaonlinegh.com
www.voltaonlinegh.com is an online portal or website that seeks to project the Volta region in the right way within the region, Ghana and the international community. The website’s main interest is to provide news and information on tourism, business and investment opportunities, personalities, entrepreneurship, sports and culture of the people. It also seeks to become the leader in branding the region appropriately by providing the right blend of video, audio, text, advertising, promotion and Public relations techniques. You can send stories, articles and contact us via mail; voltaonlinegh@gmail.com

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