Active data subscribers increased by 15.3% to 16.0 million.Service revenue grew by 32.4% to GHS3.8 billion.
Earnings before interest, tax, depreciation and amortization increased by 31.6% to GHS2.1 billion.Total capex of GHS1.2 billion .Outlook: MTN Ghana will continue to invest to develop its platforms and improve its network and services, in order to unlock value for stakeholders in line with our Ambition 2025 strategy. We continue to explore efficiency measures, preserve liquidity and strengthen the balance sheet against a background of election-year related and macroeconomic uncertainties.
MTN Ghana CEO, Stephen Blewett, commented on the country’s macroeconomic context of operating in a challenging economy in an election year.“The Ghanaian economy faced macroeconomic challenges that persisted into 2024, with inflation remaining relatively high, though on a generally declining trend. The average inflation rate within the first quarter was 24.2%, representing a decline of 26.3 percentage points from the Q1 2023 average rate of 50.5%. However, inflation ticked up to 25.
“The effects of inflation on consumers and businesses were exacerbated by the increase in the prices of petrol and diesel, which rose to GHS13.12 and GHS13.89 respectively; versus the Q1 2023 prices of GHS12.95 and GHS13.49.” he addedHe concludes, “Additionally, the Ghanaian cedi depreciated by 8.44% YTD against the US dollar according to the Bank of Ghana interbank rates.