Scancom PLC (MTN Ghana) paid a total of GHS10.5 billion in direct and indirect taxes to the Government of Ghana in 2025, up sharply from GHS8.6 billion in 2024, underscoring its growing contribution to the national fiscus as earnings and shareholder returns strengthened significantly.
The telecoms leader delivered robust financial results for the year ended December 2025, with profit after tax climbing 55.9 percent to GHS7.8 billion, compared with GHS5.03 billion in the previous year. Earnings per share rose in tandem by 55.9 percent to GHS0.5923, reflecting improved operational performance and sustained revenue expansion.
Revenue and profitability momentum
Service revenue increased by 36.2 percent year-on-year to GHS24.4 billion, driven primarily by strong growth in data consumption and Mobile Money services. The company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) grew even faster, rising 43.5 percent to GHS14.7 billion.
As a result, the EBITDA margin improved by three percentage points to 60.1 percent, highlighting operating efficiencies and scale benefits from sustained investment in network and digital platforms.
Data revenue recorded robust expansion during the year, supported by rising smartphone penetration and higher usage per subscriber. Meanwhile, active Mobile Money (MoMo) users grew by 12.3 percent to 19.3 million, reinforcing MTN Ghana’s position as a dominant player in the country’s digital financial services ecosystem.
Total mobile subscribers increased by 9.2 percent to 31.2 million, reflecting continued demand for connectivity and digital solutions across consumer and enterprise segments.
Sustained investment in network and systems
To support growth and improve service quality, the company invested GHS6.4 billion in capital expenditure in 2025. Of this amount, GHS4.6 billion was classified as ex-lease capex, channelled into expanding network coverage, enhancing capacity to manage rising data traffic, and modernising IT systems.
The investment programme is aimed at strengthening network resilience, improving customer experience, and positioning the business for long-term digital transformation opportunities.
Higher dividend for shareholders
On the back of strong earnings, the Board has recommended a final dividend of GHS0.40 per share, up from GHS0.24 in 2024. The proposed dividend, subject to shareholder approval at the Annual General Meeting, is scheduled for payment in April 2026.
The increase signals management’s confidence in the company’s cash flow generation and its commitment to delivering attractive returns to shareholders.
Outlook for 2026
Looking ahead, MTN Ghana expects the country’s improving macroeconomic environment to provide a supportive backdrop for further expansion in 2026.
The company is maintaining its medium-term guidance of service revenue growth in the mid-to-upper thirties percentage range and anticipates EBITDA margins in the mid-to-upper fifties percent. It also intends to sustain a dividend payout ratio of between 60 and 80 percent, subject to prevailing operating and market conditions.
With strong subscriber growth, expanding digital financial services adoption, and sustained capital investment, MTN Ghana appears well positioned to consolidate its leadership in the telecommunications and fintech space while deepening its contribution to Ghana’s economic development.
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