Scancom Plc, popularly known as MTN Ghana, reached a milestone on January 13, 2025, as its stock price closed at an all-time high of GH₵2.55 on the Ghana Stock Exchange (GSE). This marks a significant moment for the telecom giant, reflecting growing investor confidence in its performance and prospects.
The stock, which opened the day at GH₵2.51, gained 0.04 pesewas amid positive market sentiment fueled by statements from the Finance Minister Designate, Dr. Cassiel Ato Forson, during his vetting. Dr. Forson reaffirmed his administration’s intent to abolish the Electronic Transaction Levy (E-Levy) within the first 120 days of President John Dramani Mahama’s tenure.
While acknowledging the revenue generated by the 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 also retains its position as the most traded stock on the exchange. Between October 10, 2024, and January 13, 2025, MTN Ghana recorded a total trade volume of 28.6 million shares worth GH₵67.9 million, averaging 454,685 shares per session. The highest volume during this period was 4.27 million shares on December 20, while the lowest was 317 shares on November 13.
Investors continue to show optimism in MTN Ghana’s growth trajectory, buoyed by its strong market performance and evolving regulatory landscape.
Source: Kweku Zurek ( Graphic online)
