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Scancom Plc, popularly known as MTN Ghana, achieved a major 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 record-breaking performance underscores growing investor confidence in the telecom giant’s strong fundamentals and promising outlook.
The stock opened the day at GH₵2.51 and gained 0.04 pesewas, driven by positive sentiment following remarks by Finance Minister Designate, Dr. Cassiel Ato Forson, during his vetting. Dr. Forson reaffirmed the government’s plan to abolish the Electronic Transaction Levy (E-Levy) within the first 120 days of President John Dramani Mahama’s administration.
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While acknowledging the revenue the E-Levy has generated, Dr. Forson pointed to its detrimental impact on the growth of financial technology (fintech) and Ghana’s transition to a cash-light economy.
“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 asserted.
MTN Ghana, a leader in the fintech space with its Mobile Money platform, has seen robust growth in recent months. In the last quarter of 2024, revenue from mobile money services surged by 50.8 percent to GH₵3.1 billion, largely due to a 79 percent increase in advanced services.
MTN Ghana’s stock began the year at GH₵2.50 and has already gained 2 percent in 2025. Over the past month, the stock has risen by 8 percent, ranking it as the fifth-best performer on the GSE.
The telecom company continues to dominate trading on the exchange. Between October 10, 2024, and January 13, 2025, it recorded a total trade volume of 28.6 million shares worth GH₵67.9 million, with an average of 454,685 shares traded per session.
The abolishment of the E-Levy is expected to further enhance MTN Ghana’s mobile money operations and attract more users, fuelling investor optimism about its long-term growth prospects. The stock’s strong performance, coupled with its position as the most traded equity on the GSE, solidifies MTN Ghana’s status as a key player in the country’s financial and telecom sectors.
