MTN Ghana has been leading the Ghanaian telecom space for a while, and just like businesses measure their growth and productivity to stay relevant, MTN can say 2019 was a good year as its Mobile Money service grew strongly.
Apart from the company celebrating the 10th anniversary of its Mobile Mobile service in Ghana last year, MTN Mobile Money posts impressive figures and also highlights enviable feats such as being the first to achieve GSMA Mobile Money certification in the country, after pioneering the Mobile Money path in Ghana’s telecom industry.
Speaking at the Annual General Meeting of shareholders, the CEO of MTN Ghana, Selorm Adadevoh said MTN Mobile Money (MoMo) has been growing at an increasing rate of 28.0% each year.
Delving into what attributed to such growth in MTN Mobile Money (MoMo), he made mention of an increase in the number of active subscribers by 8.9%. This is an increase in person-to-person (P2P) transactions and measurable growth in advanced services like retail merchant payments and international remittances.
Mr Adadevoh further stated that MTN Mobile Money’s contribution to service revenue increased from 17.9% to 18.6%, whereas registered subscribers increased from 10.6% to 15.1 million subscribers, according to reports from the Bank of Ghana. Active MoMo subscribers increased from 8.9% to 9.1 million, when measured according to MTN Group’s definition.
According to the Bank of Ghana, MTN Mobile Money recorded 98.0% of transacted value share.
Written by iChris.
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