Ghana data : Accounts for 50% of MTN service revenues

The internet generated 9 billion cedis (about $584.4 million) for mobile operator Scancom PLC (MTN Ghana) in 2024, according to its annual financial results. It accounted for 50.2% of the company’s service revenues, up from 43.9% in 2023.

This growth was driven by a 53.8% increase in data revenues between 2023 and 2024. ‘This increase was driven by a 13.7% rise in the number of active data subscribers and increased smartphone adoption, resulting in a 19% rise in the volume of megabytes consumed per active user each month. This supports the investments made to improve the capacity and quality of our network’, explains the operator, which invested 4.39 billion cedis during the year.

Over the years, the contribution of data to MTN Ghana’s revenues has continued to rise, against a backdrop of growing demand. For example, it rose from 28.4% in 2019 to 39.2% in 2022. At the same time, voice revenues are falling sharply, mainly due to the massive use of bypass services (Facebook, WhatsApp, etc.). The contribution of voice revenues has fallen from 45% in 2019 to 19.7% in 2024, ‘reflecting the gradual shift in contribution towards high-growth products and services, such as data and mobile financial services’. Also, the contribution of mobile money has risen from 18.6% in 2019 to 24.9% in 2024.

Despite this growth, the Ghanaian Internet market still offers opportunities for MTN.

According to the International Telecommunications Union (ITU), 68.6% of the population, estimated at around 33.8 million by the World Bank, use the Internet. However, the operator will have to deal with competition (notably Telecel, AT, Starlink, etc.) and obstacles likely to slow down the adoption of its services. According to the Global System Operators’ Association (GSMA), these obstacles include the high cost of packages and compatible devices, a lack of digital skills, and concerns about the security and relevance of content.

source: agence ecofin