MTN Ghana has reported impressive operational growth in 2024, driven by increased data usage, fintech expansion, and digital services. However, the telecom giant faced a decline in voice service revenue, reflecting shifting consumer preferences toward internet-based communication.
MTN Ghana saw strong 2024 growth in data, MoMo, and digital revenue, while voice declined. Its stock remained stable, closing at GHS 3.12 on March 24.
MTN Ghana has recorded significant operational growth in 2024, with strong performances across its key revenue segments, except for voice services, which experienced a slight decline.
According to the company’s latest report, service revenue surged by 34.5% to reach GHS 17.9 billion, driven by substantial increases in data, MoMo, and digital revenue. Data revenue rose by 53.8% to GHS 8.97 billion, while MoMo revenue jumped by 54.4% to GHS 4.45 billion. Digital revenue saw the highest growth rate, increasing by 66.1% to GHS 228 million.
However, voice revenue declined by 0.9%, dropping slightly from GHS 3.56 billion in 2023 to GHS 3.53 billion in 2024. This reflects a broader shift in consumer behavior, as more users adopt data-driven communication platforms over traditional voice calls.
MTN Ghana‘s EBITDA grew by 31.3%, reaching GHS 10.24 billion, reinforcing the company’s strong financial position. The telecom giant also recorded an increase in active subscriptions across data, MoMo, and digital services, reflecting the growing demand for mobile internet and fintech solutions.
The results highlight a clear trend, while traditional voice services continue to decline, data and financial services are becoming the new growth drivers. As Ghana’s digital economy expands, MTN Ghana is expected to accelerate investments in data infrastructure and financial technology to sustain its revenue momentum.
Stock Market Performance
MTN Ghana’s stock showed relative stability over the past week, trading within a range of GHS 3.16 to GHS 3.17 for most sessions. The closing price on March 24, 2025, dropped slightly to GHS 3.12, reflecting a GHS 0.05 decline from the previous session.
Key highlights from the stock’s performance:
- March 17 – 21: The stock maintained stability at GHS 3.17, except for March 17, when it closed at GHS 3.16.
- March 24: The stock declined slightly to GHS 3.12, with a total of 5.5 million shares traded, generating a total trade value of GHS 17.2 million.
Despite the slight dip in stock price, the overall trading activity suggests continued investor interest in MTN Ghana’s shares, likely driven by its strong financial performance and revenue growth.
Last Updated on March 26, 2025 by samboad
