Stephen Blewett: MTN Ghana poised for continued growth

MTN Ghana Chief Executive Officer Stephen Blewett has expressed confidence in its robust performance throughout 2024, attributing its success to a strong focus on commercial execution, customer experience, and service integration.

“As we reflect on our journey through 2024, I am pleased to report that our commitment to excellence in commercial execution and service delivery has yielded remarkable results,” Blewett stated. “By prioritising customer experience and service integration, we have successfully enhanced service delivery across all MTN platforms.”

Growth Amid Challenges
Despite macroeconomic challenges, MTN Ghana witnessed substantial growth across key business segments, including Mobile Money (MoMo), data, and digital services. Blewett revealed that the company’s focus on network infrastructure upgrades, innovative solutions, and enhanced customer engagement attracted 1.7 million new subscribers seeking reliable connectivity and fintech solutions.

“Our strategic initiatives and the unwavering dedication of our team have resulted in significant growth,” he said. “Each improvement we made this year has not only strengthened our existing relationships but also expanded our customer base.”

Regulatory Milestones
MTN Ghana also reached a major milestone in its localisation journey for Scancom PLC, exceeding the regulatory requirement of 25% localisation by achieving 30%. Blewett confirmed that the National Communications Authority (NCA) has officially recognised Scancom PLC as meeting the localisation requirement for its 4G license.

Additionally, the Bank of Ghana issued a Dedicated Electronic Money Issuer (DEMI) license to Mobile Money Ltd, reinforcing MTN’s commitment to compliance with regulatory frameworks. “MTN remains dedicated to meeting all agreed license conditions of the Central Bank,” Blewett added.

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Cautious Optimism for 2025
Looking ahead, Blewett acknowledged cautious optimism regarding Ghana’s economic outlook for 2025, with anticipated improvements over time. However, he warned of potential risks stemming from inflationary pressures, currency fluctuations, and challenges in the energy sector.

“These factors could undermine the anticipated improvements in the economy and continue to negatively impact economic growth, consumer spending, and the overall cost of doing business,” he noted. While the government has outlined measures to mitigate these risks, Blewett indicated that such measures could also create a tougher operating environment for businesses.

With a strong financial foundation, strategic initiatives, and a customer-focused approach, MTN Ghana remains committed to driving innovation and digital transformation in the telecom and fintech sectors.