Home World News Emerging Markets MTN Group’s Tax Contributions Reach US$3.3 Billion Across 19 Markets in 2023

MTN Group’s Tax Contributions Reach US$3.3 Billion Across 19 Markets in 2023

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Tax
Tax

MTN Group’s Chief Financial Officer, Tsholo Molefe, underscored the significant economic contributions and impact made by the telecommunications giant and its subsidiaries across the 19 markets where they operate.

This comes as the recently released financial tax report for 2023 revealed that MTN paid a substantial $3.3 billion in tax contributions.

MTN Ghana, in particular, reported a noteworthy GHS 5.9 billion ($469 million) in total taxes paid for the year under review. Molefe emphasized that MTN’s contributions extend beyond corporate taxes, encompassing various socio-economic parameters that benefit the societies in which they operate. She emphasized the company’s role in supporting Africa’s progress and fostering hope, dignity, and opportunity for its people.

Acknowledging the challenges faced by African leaders in revenue generation and government spending amidst reduced fiscal revenue, Molefe highlighted the importance of MTN’s tax contributions and the transparency provided through the release of the tax report. She emphasized the role of these contributions in uplifting communities and fostering trust among stakeholders.

Molefe also discussed MTN’s commitment to leveraging its core capabilities to drive socio-economic growth in its host countries, particularly through initiatives focused on digital job creation. The company’s Corporate Social Investment strategy prioritizes initiatives such as the MTN Skills Academy platform, aimed at addressing the digital skills gap in Africa and promoting economic growth through ICT-enabled programs.

Overall, Molefe successfully highlighted MTN’s multifaceted impacts on its host countries beyond corporate tax payments, demonstrating the company’s commitment to driving positive change and fostering sustainable development in the regions where it operates.

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