Accra, Ghana//-MTN Ghana has made significant progress in localising its parent company, Scancom PLC; and MobileMoney Limited, another subsidiary responsible for mobile financial services in Ghana.
The outgoing Chief Executive Officer of MTN Ghana, Selorm Adadevoh who disclosed this said: “As of December 2023, MTN Ghana had achieved an additional 1.9 percentage point increase in the localisation of Scancom PLC, bringing it up to 25.1%.
At the end of December 2022, localisation recorded was 23.7%. Although the company achieved 25.0% localisation for Scancom PLC in March 2023, this trend reversed in June 2023 due to the issuance of scrip dividends, resulting in a 1.8 percentage point decrease to 23.2%, he told shareholders at the company’s sixth annual general meeting on 22nd March 2024 held in Accra.
Mr Adadevoh assured: “The company is committed to further localising Scancom PLC and MobileMoney Limited, and we will continue to work closely with regulators and relevant stakeholders to ensure that we meet the agreed targets within specified timelines”.
The MTN Group has always said it is committed to localising further to have more Ghanaians owning the shares of MTN Ghana and wants to get to 30 per cent, which is the target it is committed to.
