Scancom PLC (MTN) holds AGM, declares dividend of 12.4 per share

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On May 30, 2023, Scancom PLC (MTN) held its fifth annual general meeting (AGM).

At the AGM, the Board Chairman, Dr. Ishmael E. Yamson, provided an update on the company’s performance for the year 2022.

He said that MTN Ghana’s performance for 2022 was strong, with total revenue growing by 28.4% Year-on-Year (YoY), supported by management’s effective implementation of the commercial strategy, which led to growth in Voice, Data, and Mobile Money (MoMo) revenues.


“MTN is committed to improving the lives of Ghanaians through appropriate and sustainable socioeconomic interventions. Over and above the investment in MTN’s network and IT systems, the organization allocated GHS28.3 million to undertake health, education and economic empowerment projects in 2022 through the MTN Ghana Foundation,” Dr. Yamson indicated.

A dividend on ordinary shares in the amount of 12.4 pesewas was agreed at the AGM and will be distributed to all shareholders on June 22, 2023. Following the interim dividend of 4.0 pesewas per share paid on September 22, 2022, this takes the total dividend for the 2022 fiscal year to 16.4 pesewas per share. In addition, the dividend per share paid in 2022 over 2021 increased by 42.6% Year-over-Year (YoY), or 70.6% of the profit after taxes.

Speaking during the AGM, MTN Ghana’s Chief Executive Officer, Mr. Selorm Adadevoh, listed MTN’s commitment to using its Ambition 2025 plan to spur growth and create value for all stakeholders. He stated “We are confident in the medium to long-term prospects of Ghana’s economy and as such, MTN commits to continue to invest efficiently in infrastructure and to improve the capacity and quality of connectivity and other related services for our customers.”

Touching on MTN’s digital initiatives, Mr. Adadevoh said “MTN will continue to lead the adoption of new innovative solutions that solve relevant problems for Ghanaians. MTN will deepen the ongoing work to improve its platforms, particularly MyMTN and Ayoba Apps, as well as MoMo as part of MTN’s three-app strategy to enhance customer choice, customer experience and to deliver on MTN’s commitment of excellence to its cherished customers”.

“The communities we operate in remain core to everything we do and to this end, MTN continues to extend various sustainable projects and initiatives to improve communities across the country with a focus on building and growing digital skills among the youth, with a particular focus on females”, Mr. Adadevoh stated.

Since its listing on the Ghana Stock Exchange (GSE) in 2018, the company remains the organization with the largest number of Ghanaian shareholders.


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