20.11.2007 Business & Finance

MTN launches foundation

MTN launches foundation
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The MTN, a global communications group will formally launch the MTN Ghana Foundation on November 23, 2007 to manage its Corporate Social Responsibility activities in the country.

A statement in Accra from the company said all operating units of MTN were expected to establish the MTN Foundation, managed by an independent Board of Directors.

"One per cent profit after tax of each operating unit is required to be used to support community improvement activities, the Group President and Chief Executive of MTN, Mr Phuthuma Nhleko said, adding, "by investing in our communities, MTN is creating a better future for the countries in which we operate".

The statement said a stakeholders' Forum to solicit the views of key interest groups on policy formulation to guide the operations of the Ghana Foundation has already been organised by MTN. MTN has also engaged in discussions across the country about the establishment of the Foundation.

"At MTN, we believe we have a responsibility to give back to the customers and communities that contribute to our success", it said.

The MTN Foundation in Ghana will, for now, focus its attention on two key areas, namely Health and Education, because of their immense contribution to promoting national development.

MTN Ghana Foundation is committed to partner with other key stakeholders to support national efforts at improving the quality of life of the Ghanaian population.

The model is endorsed by the MTN Group Board as the vehicle for effectively administering MTN's Corporate Social Responsibility contributions and to date, four operations have formally launched the Foundation namely, South Africa - 2001, Nigeria - 2005, Cameroon and Cote d'Ivoire - 2006 respectively.

Launched in 1994, MTN is a global telecommunication group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group operates in Ghana, Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, Cyprus, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia.

As at 30 June 2007, MTN recorded over 48 million subscribers across its operations.

The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa and has exclusive mobile content rights for Africa and the Middle East.

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