MTN Ghana has pledged to invest $1bn in capital expenditures (CAPEX) over the next five years to expand its network and enhance service delivery across the country.

Company CEO Stephen Blewett said the aim is to maintain the company’s growth trajectory in the competitive telecommunications industry.

The Ghanaian unit of South Africa-based telecom giant MTN Group began investing around $200mn in 2024 as part of the broader plan, focusing on upgrading infrastructure in the Greater Accra Region and other parts of the country. 

According to Blewett, MTN is using advanced systems to monitor service quality at the individual phone level, allowing quicker responses to network issues. “We can measure how customers are experiencing services,” he told the Ghana Stock Exchange’s (GSE) ‘Facts Behind the Figures’ forum.

The company is also employing “massive MIMO” technology, which increases network capacity without needing additional spectrum. This upgrade aims to handle higher data traffic and improve internet speeds for customers. 

“We’re putting in new equipment with better capabilities,” Blewett was quoted as saying by the Business & Financial Times. 

MTN Ghana’s investments have driven significant financial growth. In the first half of 2024, the company’s service revenue grew by 31.2% year-on-year, mainly fueled by a 55% rise in data revenue and a 44.8% increase in Mobile Money (MoMo) revenue. Despite a slight decline in voice revenue, data usage surged by 24.2%, reflecting a growing demand for internet services.

MTN’s digital services also experienced strong growth, with a 59.4% rise in digital revenue, driven by increased demand for video, gaming, and digital entertainment. The company’s apps, including ayoba and MyMTN, saw significant user growth, with 2.9mn and 1.6mn users, respectively.