Artificial intelligence (AI) in customer value management initiatives assisted MTN Ghana in improving user experience across its service offerings, as the company’s subscriber base grew by 5.2% and service revenue increased by 39.6% in the first quarter (Q1) of 2025.
According to MTN Ghana CEO Stephen Blewett, this performance is the result of strategic initiatives and investments across the telco's main business lines, including data, digital services, voice communications, and Mobile Money (MoMo).
Blewett stated that MTN's financial success in Q1 2025 reflects its "robust operational strategies and commitment to efficiency."
During the quarter, service revenue climbed by 39.6% to GHS5.3 billion; earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 45.0% to GHS3.1 billion; and the EBITDA margin increased by 2.2 percentage points (pp) to 58.1%.
Profit after tax climbed by 53.7% to GHS1.7 billion, with earnings per share increasing by 53.7% to GHS0.1292. Total capital expenditure was GHS1.2 billion (GHS0.8 billion ex-leases), while direct and indirect taxes were GHS2.7 billion (2024: GHS1.7 billion).
During the review period, mobile subscribers grew by 5.2% to 29.2 million, active data subscribers by 10.8% to 17.8 million, and active MoMo users by 11.5% to 17.4 million.
Blewett commented on the company's overall success: “As we assess our performance for the first quarter of 2025, it is important to contextualise our achievements within the broader economic landscape of Ghana.
“During this period, the nation experienced mixed macroeconomic trends. In Q1 2025, the Ghana cedi was 17.1% weaker on a YoY basis relative to the US dollar, according to the Bank of Ghana interbank rates.
“Inflation remained a significant concern, though slightly moderated from the 23.8% recorded in December 2024 to 22.4% at the end of March 2025. The average inflation rate for the first quarter of 2025 was 23.0%. Although inflation is expected to gradually ease in the near to medium term, the generally high inflationary environment has resulted in upward pressure on business costs.”
Nonetheless, on a positive note, Blewett said: “The government’s decision to abolish the e-levy tax on Mobile Money transactions, effective April 2, 2025, represents a pivotal shift in the regulatory environment.
“The removal of the levy is expected to not only alleviate the financial burden on consumers but also stimulate growth in the Mobile Money sector, thereby deepening Ghana’s digital and financial inclusion efforts.”
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