02 April 2025

Scancom PLC (MTN Ghana) has announced its annual financial results for 2024, revealing that the internet generated 9 billion cedis, accounting for 50.2% of the company’s service revenue — up from 43.9% in 2023. This increase is attributed to a 53.8% surge in data revenues.

The growth in data revenue was driven by a 13.7% rise in the number of active data service subscribers, coupled with the growing adoption of smartphones among users. Scancom reported a 19% increase in the volume of megabytes consumed per active user each month, a trend that supports the company’s ongoing investments to enhance network capacity and quality. The company invested 4.39 billion cedis in infrastructure improvements during the year, underscoring its commitment to delivering top-tier service.

The contribution of data to MTN Ghana’s revenues has consistently grown in recent years, rising from 28.4% in 2019 to 39.2% in 2022, and now to over half of the total service revenue. In stark contrast, voice revenues have experienced a decline, dropping from 45% in 2019 to just 19.7% in 2024. This decline reflects the increasing popularity of Over-The-Top (OTT) services, such as Facebook and WhatsApp, which continue to reshape consumer behaviour and preferences. Meanwhile, the contribution of mobile financial services has also risen significantly, increasing from 18.6% in 2019 to 24.9% in 2024.