The MTN Group has announced that its Ghana unit recorded a 23 percent increase in third-quarter revenue from a year ago from 2.49 billion Ghanaian cedi to 3.54 billion Ghanaian cedi (US$731.90 million).
Reuters reports that the increase in MTN Ghana’s revenue was boosted by its mobile money service MoMo.
In August this year, MTN Ghana successfully listed on the Ghana Stock Exchange securing over GH₵1.14 billion in a historic Initial Public Offering (IPO).
Official figures from the IPO indicated that about GH₵444m out of the GH₵1.14 billion (GHp75 per share) raised came from Ghanaians, representing about 38.69%.
About GH₵703 million was also raised from non-Ghanaians representing about 61.31%.
The figures showed that out of the 128,152 applicants, 127,826 were Ghanaians and only 326 were non-Ghanaians.
MTN said about 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants.
Source: Graphic Online