MTN’s half year revenue hits ₵8.1bn, representing 31.1% jump

MTN Ghana reported a significant revenue increase to ₵8.1 billion for the first half of 2024, up 31.1% from ₵6.1 billion in 2023.

Key growth drivers included higher data usage, mobile money, and digital revenue.

Data revenue rose 55% year-on-year to ₵4 billion, while mobile money revenue increased by 44.8% to ₵1.9 billion.

Digital revenue grew by 59.4% to ₵101.4 million.

MTN posted a profit before tax of ₵3.3 billion, up 36.6%.

The company invested ₵2.8 billion in network and IT enhancements, and local ownership of Scancom PLC reached 27.9%.

An interim dividend of ₵0.065 per share is proposed. MTN aims to continue investing in its services amidst economic uncertainties.