UWR MTN IPO LAUNCH


A Deputy Director of the Upper West Regional Coordinating Council, Alhaji Abubakari Alhassan has paid tribute to MTN Ghana for its decision to include the Mobile Money platform as one of the channels for Ghanaians to buy the company’s shares in the Initial Public Offer (IPO), saying the move is a brilliant idea. 

He made the remarks in Wa when he deputized for the Regional Minster, Alhaji Alhassan Sulemana at the Upper West version launch of MTN IPO. 

In this write-up, GBC’s Emmanuel Mensah-Abludo says the MTN Ghana share offer had been scheduled for 29th May 2018 to 31st July 2018 and a share is pegged at 75 Ghana pesewas. 

The Deputy Director said the telecommunications and ICT industry continues to be a key contributor to Ghana’s economy. 

Undoubtedly the expansion of the 4G technology nationwide has and will continue to unlock and accelerate the growth of an information and knowledge- based society whilst driving economic growth. 

Alhaji Alhassan equally doffed his hat for MTN for being a corporate good citizen playing a key role in Ghana’s development, saying MTN remains the largest tax payer in the telecommunications industry and its contribution to Ghana investment fund for telecommunication is significant. 

He was excited about the dynamism in the telecoms landscape and how players continue to break new barriers, adding that MTN should take a leadership role because through innovations it continues to transform the industry. 

Alhaji Alhassan observed that the government of Ghana recognizing the enormous benefit of ICT to the Ghanaian citizenry, will continue to put in place structures and policies that will help grow the industry. 

He pointed out that because the government cannot do it all, “it appreciates and is always excited to see the private sector stakeholders like MTN takes such giant steps in pursuit of initiatives that will ultimately promote economic development.”    

The Sales and Distribution Executive of MTN Ghana, Eric Yaw Nsarkoh stated that subscribers who will use mobile money (Momo) to buy shares in the IPO) will have their charges waived “for this specific transaction.” 

He announced that when MTN considers the value chain of its operations in respect of suppliers, partners as well as employees, it is estimated that the company is directly and indirectly responsible for about 500 thousand sustainable job in Ghana. 

The company also paid one point-zero-five-nine billion Ghana Cedis (GH₵ 1.059 billion) as tax in 2017. 

Mr. Nsarkoh indicated that out of the entity’s profits, the MTN Ghana Foundation is well positioned to carry on investing in health, education and economic empowerment in line with its corporate social responsibility. 

On technology deployment, he said at the end of last year, MTN had 28 3G sites and 12 4G sites in the Upper West Region.  

Mr. Nsarkoh told the gathering that: “This year, some of the 2G sites in the Region will be upgraded to 3G site and two 4G sites are being deployed, further underlying how important the Region is and indeed our quest to make our customers lives a whole lot brighter. 

He added that this year, MTN has earmarked 144 million Dollars for capital expenditure. 

The General Manager of Northern Business District, Nii Adotey Mingle indicated that it is MTN’s believe that “the IPO will become an official stamp of the approval of the people of Upper West Region whilst reinforcing our commitment to the country.”

He expressed appreciation to the RCC, the chiefs and people of the region for the immense support they have had and continue to receive. 

Nii Mingle pointed out that “as we enter another phase of this company we will continue to partner you to sustain the growth we have made.” 

The Sunche Naa, Naa Osman Saaka Daudi who represented the wa Naa, Naa Fuseni Seidu Pelpuo told the gathering that MTN has made appreciable investment in the Upper West by way of corporate social responsibility. 

Naa Daudi mentioned support to women in Sungsuma to improve their shea butter business, donation of computers and braille to the Wa School for the Blind, the refurbishment of the Gwollu Library project and support to the Wala Traditional council among others as clear testimonies of MTN’s commitment to the development of Ghana in general and the Upper West in particular. 

The Vice President, IC Securities Ghana Limited, Prince Sitsofe Boima advised that prospective investors to read the IPO prospectus and seek expert advice before making investment decision.

story by GBC's Emmanuel Mensah-Abludo

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