It's too early to assess E-Levy progress – MTN Group CEO
Group Chief Executive of MTN Group, Ralph Mupita, has disclosed plans to localize the telecommunication giant by having Ghanaians own at least 30 percent of its shares.
He noted that this goal could be achieved by the end of this year.
Addressing journalists following a day’s visit to Ghana, Ralph Mupita underscored the importance of Ghanaian participation in fulfilling the economic achievement in MTN.
“So 30% local ownership is the target we have committed to, and I’m very pleased to say we’ve made progress as we are currently at 23.7%,” he pointed out.
“The reason we want Ghanaians to own the shares is that we want more Ghanaians to enjoy and participate in the economic success of MTN. So that program of further localization is still intact. We are targeting to get to the 30% localization by the end of the year,” he added.
In August 2018, MTN Ghana settled its Initial Public Offering (IPO) after selling over 1.5 million shares. The telco company in that year was able to raise an amount of GH¢1.146 billion through the IPO.
Although the IPO could not achieve its projected target of GH¢3.5 billion targets, the GH¢1.146 billion it raised was deemed as an outstanding feat and known to be the largest volume of IPO’s offering on the Ghana Stock Exchange.
MTN Group CEO, Ralph Mupita