The 20 largest MTN Ghana shareholders revealed

• Posted on March 7, 2024March 7, 2024
• by Nana Kwesi Coomson
• Comment

In a recent disclosure, Scancom Plc, commonly known as MTN Ghana, has shed light on its ownership structure.

As the leading telecommunications company in Ghana, MTN Ghana plays a pivotal role in the country’s digital landscape. But who holds the reins? Let’s delve into the list of the top 20 shareholders as of December 31, 2023.

INVESTCOM CONSORTIUM HOLDINGS S.A. dominates the shareholding landscape with a staggering 77.23% stake, SCGN/JPMC FIRSTRAND BANK LTD GTI:73863 follows with a more modest 2.87% ownership while the SOCIAL SECURITY AND NATIONAL INSURANCE TRUST (SSNIT) holds a significant 1.50% stake.

See the list of twenty largest MTN Ghana shareholders as at December 31, 2023 below;

1. INVESTCOM CONSORTIUM HOLDINGS S.A.
Number of shares –  10,222,914,770 (77.23percent)

2. SCGN/JPMC FIRSTRAND BANK LTD GTI:73863, 
Number of shares -379,277,829 (2.87percent)

3. SOCIAL SECURITY AND NATIONAL INSURANCE TRUST
Number of shares – 198,745,480 (1.50percent)

4. SCGN/SSB& TRUST AS CUST FOR KIMBERLITE FRONTIER, AFRICA MASTER FUND,L.P-RCKM
Number of shares – 178,612,110 (1.35percent)

5. HUNTER BOFOUR LTD
Number of shares – 122,904,743 (0.93percent)

6. AFCAP GHANA LTD, A.G 
Number of shares – 122,904,743 (0.93percent)

7. DADEK HOLDINGS LTD,
Number of shares – 122,904,743 (0.93percent)

8. YEOTECH COMPANY LTD, 
Number of shares – 122,904,743 (0.93percent)

9. SCANVISION INVESTMENTS LIMITED COMPANY
Number of shares – 122,904,743 (0.93percent)

10. STD NOMS/BNYMSANVLUX RE EASTSPRING INVESTMENTS SICAV-FIS
Number of shares – 110,306,438 (0.83percent)

11. SCGN / NORTHERN TRUST CO. AVFC 6314B
Number of shares – 99,915,882 (0.75percent)

12. STD NOMS/TRUST ACCT/BNYMSANV RE BNYMSANVFFT RE ODD, O KIL AFR
Number of shares – 87,464,313 (0.66percent)

13. CORONATION FD MGERS IRE ON BEHALF OF THE AFR FRTR FUND
Number of shares – 59,552,104 (0.45percent)

14. STD NOMS/TRUST AC/BNYMSANV RE BNYMIL RE ALL AFR FD
Number of shares – 55,212,451 (0.42percent)

15. STD NOMS TVL PTY MOMENTUM SP REID SECURITIES LTD
Number of shares – 39,700,132 (0.30percent)

16. STD NOMS/ BNYM RE VANDERBILT UNIVERSITY
Number of shares – 42,437,110 (0.32percent)

17. CBN/HSOPS/FM1,HSOPS FRONT 
Number of shares – 73,550,583 (0.56percent)

18. ENTERPRISE TIER 2 OCCUPATIONAL PENSION SCHEME 
Number of shares – 53,336,912 (0.40percent)

19. GES OCC PENSION -DATABANK FINANCIALS
Number of shares – 48,368,296 (0.37percent)

20. SCGN/JPMC RE DUET AFRICA OPPORTUNITIES MASTER FUND, IC GTI:AEX26
Number of shares – 40,122,120 (0.30percent)

How much did the company earn for shareholders in 2023

Despite a challenging economic environment in Ghana marked by high inflation and currency depreciation, MTN Ghana, reported a successful year in 2023.

The company announced a profit of GH¢3.98 billion cedis and declared a dividend of GH¢0.175 per share in its audited 2023 Financial Report released yesterday. The company’s share price on the Ghana Stock Exchange is trading at GH¢1.46p currently.

While the year presented its share of difficulties, MTN Ghana remained focused on delivering value to its stakeholders.

The company’s service revenue grew by 34.6% year-on-year, driven by strong growth in voice, data, and Mobile Money. This growth translated to a 39.4% year-on-year increase in profit after tax, reaching GH¢4.0 billion. Additionally, MTN Ghana maintained a healthy balance sheet with GHS 225 million in outstanding principal debt. It paid paid GH¢5.9 billion in direct and indirect taxes.