MTN Ghana to launch international remittances

By Fred Sarpong

The Mobile Telecommunication Network (MTN) Ghana has announced that it will soon launch international remittances, where Ghanaians living in abroad can use mobile phones to send money back home.

The Chief Executive Officer (CEO) of MTN Ghana, Michael Ikpoki announced this at MTN Editors forum in Accra last week.

The MTN Editors fora are organized across the 10 regional capitals each year to bring Editors, Managing Editors, Senior Journalists and other key Media Personalities in the country closer to the MTN brand to update them on MTN Ghana’s operations and key business achievements.

The forum was used to share highlights of MTN Ghana’s contribution to the development of the country. Also, to give an update on the financial results for the year 2012 and also share the new Vision and Mission statement of MTN Group.

Ikpoki noted that mobile money transfer is easy way of sending money across and it is important for MTN Ghana make sure Ghanaians abroad utilize the services.

According to him if MTN Ghana start implementing the international remittances through mobile phones, it will improve the economy of Ghana and also offers more job opportunities.

He stated that out of the GHc1.5 billion revenue company generated last year, only 16% was retained for shareholders.

He explained that 15% of the total revenue went into interconnection calls, 15% for capital expenditure, 11% for rental and utilities, 10% for dealer commission/handset and SIM, marketing cost took 10%, company’s income tax 7%, staff income tax 6%, other cost 5%, maintenance and transport 3%, and regulatory 3%. In 2010, MTN Ghana contributed 6.9% to government tax revenue.

MTN Ghana CEO said that out of every GHc1 spent by a customer, 31% of that goes to taxes, such as VAT, NCA, GIFEC, frequency charges, income tax and others. The company spent GHc11 million in corporate social responsibilities (CSR) through MTN Ghana Foundation.

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