Scancom PLC, operating as MTN Ghana, will host its 7th Annual General Meeting (AGM) on March 27, 2025, at the Accra International Conference Centre, with a virtual option for shareholders.
The meeting will address critical agenda items, including the approval of audited financial statements for 2024, a final dividend payout of GHS 0.24 per share, and the re-election of key directors.
The company reported robust financial performance, with revenue climbing to GHS 17.95 billion in 2024, a 34% increase from the previous year. Profit after tax rose to GHS 5.03 billion, up 26% year-on-year, driven by growth in digital services and mobile money transactions. Shareholders will vote on a total dividend payout of GHS 3.18 billion, marking an 80% distribution of net profits and a 35.6% increase in dividends per share compared to 2023.
Director reappointments dominate the agenda, with Sugentharen Perumal, Fatima Daniels, Ebenezer Twum Asante, and Tsholofelo Molefe seeking re-election. Nosisa Fubu is nominated as a new Independent Non-Executive Director. The board also proposes GHS 10.3 million in directors’ fees for 2025, subject to shareholder approval.
Notably, MTN Ghana’s mobile money float—a key asset—surged to GHS 23.87 billion, representing 58% of total assets. However, auditors flagged a GHS 51.4 million provision for potential credit losses on these holdings, citing partner bank risk assessments.
The AGM will allow hybrid participation, with shareholders accessing proceedings via live stream or dial-in. Proxy voting is permitted, and electronic voting options are available through USSD codes or an online portal. Financial statements and proxy forms are accessible on the company’s AGM website.
Ernst & Young Ghana, the group’s auditor, affirmed the financials as fair and compliant with IFRS standards. Meanwhile, MTN Ghana continues expanding its corporate social responsibility efforts through the MTN Foundation, which invested GHS 50.3 million in education, health, and economic empowerment projects in 2024.
As Ghana’s telecom leader, Scancom PLC remains a pivotal player in the MTN Group’s African portfolio, with its Johannesburg-listed parent company holding majority shares. The AGM outcomes will shape strategic decisions amid rising competition and evolving regulatory landscapes in Ghana’s telecom sector.
