Who is the owner of MTN Ghana? – The 20 largest shareholders revealed

In a revealing insight into the corporate structure of one of Ghana’s key digital communication providers, MTN Ghana (formally known as Scancom Plc) has publicly disclosed the identities of its top 20 shareholders as of the close of 2023.

Dominating this list is INVESTCOM CONSORTIUM HOLDINGS S.A., holding a substantial 77.23% of the company’s shares. This revelation underscores the significant control exercised by this entity over the telecommunications giant, which is a central player in Ghana’s rapidly evolving digital and economic landscape.

Following INVESTCOM on the top shareholders of MTN, the list features a mix of financial institutions and investment trusts, with SCGN/JPMC FIRSTRAND BANK LTD GTI:73863 and the SOCIAL SECURITY AND NATIONAL INSURANCE TRUST (SSNIT) holding 2.87% and 1.50% stakes respectively.

These top MTN Ghana shareholders underscore the diverse investment base supporting MTN Ghana, from global finance to local pension funds, highlighting the broad confidence in the company’s prospects and governance.

The remainder of the top 20 list includes various corporate and financial entities, such as AFCAP GHANA LTD, DADEK HOLDINGS LTD, and the SCANVISION INVESTMENTS LIMITED COMPANY, each owning 0.93% of the shares.

The spread of ownership among these entities demonstrates a mix of local and international confidence in MTN Ghana ’s market position and future growth potential.

In 2023, despite facing challenges such as high inflation and currency depreciation, MTN Ghana reported a noteworthy financial performance.

The company achieved a profit of GH¢3.98 billion and announced a dividend of GH¢0.175 per share, a significant return to its shareholders amidst economic pressures.

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This financial achievement highlights MTN Ghana ’s resilience and its strategic focus on delivering value to its stakeholders, including its diverse shareholder base.

The growth in service revenue by 34.6% year-on-year, powered by an expansion in voice, data, and Mobile Money services, was a key driver of the company’s 39.4% increase in profit after tax, totaling GH¢4.0 billion for the year.

Such performance not only reflects MTN Ghana ‘s solid operational capabilities but also its pivotal role in advancing Ghana’s digital economy.

Furthermore, MTN Ghana ‘s contribution to the national economy is underscored by its payment of GH¢5.9 billion in direct and indirect taxes, demonstrating MTN Ghana ’s position as a significant corporate citizen.

With GHS 225 million in outstanding principal debt, the company maintains a strong balance sheet, emphasizing its financial health and sustainability.

As MTN Ghana continues to thrive, the disclosure of its largest shareholders offers a transparent view into the company’s ownership structure, reaffirming its commitment to corporate governance and stakeholder engagement in the face of economic challenges.

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