Scancom Plc, widely recognized as MTN Ghana, achieved a significant milestone on January 13, 2025, as its stock price soared to a record high of GH₵2.55 on the Ghana Stock Exchange (GSE). This landmark moment underscores the increasing investor confidence in the telecom leader’s performance and future potential.
The stock, starting the day at GH₵2.51, rose by 0.04 pesewas as positive market sentiment was stirred by remarks from Finance Minister Designate Dr. Cassiel Ato Forson during his vetting. Dr. Forson reiterated the administration’s plan to eliminate the Electronic Transaction Levy (E-Levy) within the first 120 days of President John Dramani Mahama’s term.
While acknowledging the revenue generated by E-Levy, Dr. Forson highlighted its adverse effects on financial technology (fintech) growth and Ghana’s transition to a cash-light economy which has MTN Ghana at the forefront with its Mobile Money platform. “The fact remains that the E-Levy retards our progress towards a cash-light economy and fintech. We need to abolish the E-Levy,” he stated.
In the last quarter, MTN’s revenue from Mobile Money grew by 50.8 percent to GH₵3.1 billion, driven by a 79 percent increase in advanced services.
MTN Ghana, which began 2025 with a share price of GH₵2.50, has already achieved a two percent gain this year. Over the past four weeks, the stock has risen by 8 percent, placing it fifth in performance on the GSE.
The telecom company maintains its status as the most actively traded stock on the exchange. From October 10, 2024, to January 13, 2025, MTN Ghana saw a total trade volume of 28.6 million shares valued at GH₵67.9 million, averaging 454,685 shares per day. The peak volume during this period was 4.27 million shares on December 20, while the lowest was 317 shares on November 13.
Investors remain optimistic about MTN Ghana’s growth potential, driven by its robust market performance and the evolving regulatory environment.
