MTN Ghana holds 4th Annual General Meeting; assures commitment to put customers first

MTN Ghana on Monday, May 30, 2022, successfully held its fourth Annual General Meeting (AGM) at the Company’s Head office at MTN House, Independence Avenue.

The virtual event which started at 11:00GMT saw the approval of the Audited Financial Statements for the year ended 31st December 2021; declaration of a final dividend for the year ended 31st December 2021, the appointment of an Executive Director, authorization of the Directors to fix the remuneration of the Auditor for the year 2022, and approval of Director’s fees for the financial year 2022.

Speaking at the event, Mr. Selorm Adadevoh who is the Chief Executive Officer (CEO) for MTN Ghana assured customers that they will always come first.

He said, “We remain committed to truly putting the customer at the heart of the organization to achieve high levels of advocacy, measures through our net promoter score (NPS).”

MTN Ghan CEO Mr. Selorm Adadevoh

Mr. Adadevoh further revealed plans by MTN Ghana to introduce an initiative called '4G everywhere you go' to improve the service already being received by customers.

He said the company will do this by scaling up efforts in digitalisation by riding on the back of the MyMTN and the Ayoba super app.

“We also plan to stent out 4G/4G+ service by implementing 4G everywhere you go (i.e 4G on every site) by the end of 2022 and scale up efforts in the digitalisation journey with a focus on MyMTN and the Ayoba Super app,” Mr. Selorm Adadevoh said at the AGM.

Asked about how the implementation of the Electronic Transaction Levy is affecting its Mobile Money Operations, the MTN CEO said it is too early to concretely make a determination.

He said as operators in the telecoms world where they need longer runs to establish trends, it is important that before they state a public position on MTN’s observations, they have enough confidence in the information they will be putting out.

“At this point, the behaviour changes we are seeing are short term and we cannot take a position on the impact of E-Levy on that behaviour over this short term period. But I reassure you that once we have a longer run of information and we see where the equilibrium starts to fall we will be able to share something concrete as far as the impact of the E-Levy is concerned,” Mr. Adadevoh added.

Addressing the media after the fourth AGM, Board Chairman for Scancom Plc, Dr. Ishmael Yamson stressed that proceedings ended successfully.

He assured shareholders of the company that MTN Ghana will always endeavour to make sure the company is well-managed for their interest.

“We just had a successful Annual General Meeting. The results were very good. Shareholders approved the payment of very decent dividends. But I think the most important thing for me is the focus of the business on the future especially this year, given that the whole global economy is in turmoil and Ghana has not been spared. There are many issues that confront all businesses and therefore also the same thing with MTN.

Dr. Ishmael Yamson - Board Chairman - Scancom Plc

“What I can say and what we assured shareholders is that first of course our focus is very robust governance to make sure that the company is well managed, is well catered for and that the culture of the business is ethical,” Dr. Ishmael Yamson indicated.

He said while there may be concerns about the earnings of shareholders, he is not worried knowing that it is temporal and things will soon change to the delight of all shareholders.

“Historically my experience in this country is that company performance is irrelevant to the behaviour of the stock exchange. This doesn’t worry me as chairman of the board. I see this as a very temporary phenomenon and it will correct itself over time,” Dr. Ishmael Yamson emphasised.