MTN Ghana Achieves 30% Localization in Scancom PLC and MobileMoney Limited
MTN Ghana has achieved significant progress in its localization drive for Scancom PLC and MobileMoney Limited, according to its Q3 2024 performance report.
The telecommunications giant announced an additional 2.1% increase in localization, raising the current stake from 27.9% to 30%.
The localization initiative aims to deepen local investment across MTN’s African operations, a strategic commitment aligned with regulatory expectations.
This move reflects MTN Ghana’s focus on enhancing local ownership within its Ghanaian subsidiaries, particularly Scancom PLC and MobileMoney Limited.
“MTN Ghana has maintained its unwavering dedication to localizing Scancom PLC and MobileMoney Limited in compliance with regulations, achieving significant progress in this endeavor,” stated the report, underscoring the company’s commitment to the initiative.
Moreover, MTN Ghana disclosed ongoing collaborations with regulatory bodies to finalize the localization process for MobileMoney Limited.
“We are working with the relevant regulatory authorities to finalize the localization of MobileMoney Limited,” the report noted, signaling continued efforts toward a fully localized operational framework.
MTN’s localization drive underscores its commitment to long-term sustainability and regulatory alignment in Ghana, supporting broader goals for economic inclusion and growth within the telecommunications sector.
