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In celebration of its thirty years in business, MTN connects people, transforms lives, and propels economic progress throughout South Africa and the African continent.
“As we reflect on this significant milestone, we express our sincere gratitude to all our stakeholders, past and present, across multiple jurisdictions, for their support,” said MTN Group President and Chief Executive Officer Ralph Mupita. “We couldn’t have achieved this remarkable success without you.”
MTN began as a small South African start-up in 1994 with 20 workers. Since then, it has grown to become a global leader in telecommunications, employing over 17,500 people from over 70 different countries in 18 different markets.
MTN has had a significant impact in South Africa. 97% of the population is currently reached by the company’s network, which lays the groundwork for economic empowerment and digital inclusion. MTN has made sure that South Africa stays at the forefront of technological innovation by making investments in cutting-edge technologies like 4G and 5G. According to a recent KPMG analysis, MTN South Africa is a major actor in the national economy due to its significant GDP contribution.
The evolution of handsets and the proliferation of apps have democratised access to information and essential services, from financial solutions to healthcare, education, and entertainment. This has been a game-changer for individuals and businesses alike.
MTN’s influence extends far beyond South Africa. In 2023, the MTN Group recorded over R220 billion (more than US$11 billion) in revenue, a testament to its market leadership and the growing demand for digital services across Africa. This success has driven the company’s market capitalisation to over R150 billion, solidifying its position as one of the continent’s most valuable companies.
Millions of people are connected by MTN throughout Africa, giving them access to critical services and necessary tools for communication. MTN’s network provides data access to over 149 million people, accelerating a digital revolution that is transforming society and economies. Furthermore, MTN Mobile Money (MoMo) gives over 65 million people access to financial services, promoting financial inclusion and community economic empowerment.
It is clear to see MTN’s dedication to socioeconomic development everywhere. The Group supported essential public services and infrastructure development in 2023 by paying almost R62 billion (more than US$3.3 billion) in taxes to governments throughout markets. A further R159 billion in economic value was produced by MTN’s operations, which also promoted digital innovation, increased economic activity, and created jobs.
From the outset, the Group has been driven to make a social impact. Launched in 2001, the first MTN Foundation had an annual budget of R22 million. In 2023, MTN spent ten times that – R220 million – in corporate social responsibility across markets, with a special focus on developing digital skills to enable the digital economy.
Furthermore, both MTN Group and MTN South Africa have achieved Level 1 Broad-Based Black Economic Empowerment status, underscoring their commitment to diversity, inclusion, and social transformation.
MTN’s dedication to giving back is embodied in the annual “21 Days of Y’ello Care” initiative, which has been extended to 30 days this year to commemorate the 30th anniversary. Kicking off on June 01, 2024 under the theme “Learn Today, Lead Tomorrow: Education for Rural and Remote Communities,” this initiative mobilizes MTN employees across the continent to dedicate their time and resources to enhance educational opportunities. This year, the focus is on bridging the educational divide in rural and remote areas, providing digital learning tools, and supporting educational infrastructure to empower the next generation of leaders within these communities.
The thirty-year history of MTN is proof of the transformative potential of technology and the steadfast spirit of innovation. With an eye on the future, MTN is committed to using cutting-edge digital solutions to close the digital divide, empower people and communities, and advance sustainable and inclusive development throughout Africa.
Source: Ghanatodayonline.com
