MTN Ghana to spend $1.1bn in 3 years, build 500 new sites as MoMo hits 44% Growth

Telecom giant MTN Ghana is investing US$1.1 billion over the next three years to expand its network, including the deployment of 500 new cell sites this year, as it marks 30 years in Ghana. At a stakeholder forum in Wa, the company’s Chief Risk and Compliance Officer, Joseph Dogbe, announced the investment. Speaking before media partners, stakeholders and MTN staff, Mr Dogbe traced the company’s journey from luxury to lifeline — from connecting people to creating opportunities, and from building cell sites to building trust.

He then outlined the figures behind the investment. Mr Dogbe said MTN Ghana connects more than 32 million subscribers. To keep that connection alive, the company is investing US$1.1 billion over the next three years, including approximately US$380 million in 2026, to enhance network capacity and resilience.

As part of the investment, the telecommunications company is deploying 500 new cell sites nationwide this year. The MTN Chief Risk and Compliance Officer said the company’s 30-year journey had not always been smooth, adding that gratitude that remembers only the easy years is not complete gratitude. Mr Dogbe, however, stressed that connectivity alone was not enough.

“One of the most powerful examples of shared value is Mobile Money. In the first half of this year, MoMo transaction value grew by 44.4% year-on-year, with active MoMo users up 3.1% and transaction volumes up 23.3%,” he said. “For many, MoMo has become more than a payment platform.

It is a gateway to economic participation,” he added. He said MTN’s extensive reach came with responsibility, emphasising that cybersecurity and data privacy were fundamental to building trust. On financial performance, MTN Ghana recorded strong growth in the first half of 2026, with service revenue increasing by 32.3% to GH¢15.0 billion, earnings before interest, taxes, depreciation and amortisation (EBITDA) rising by 47.1% to GH¢9.3 billion, and profit after tax growing by 46.8% to GH¢5.1 billion.

“We share these numbers not to boast, but because they matter to you directly: a financially strong MTN Ghana is a Ghana that can keep investing,” Mr Dogbe stated. On its contribution to national revenue, MTN paid GH¢5.6 billion in direct and indirect taxes, as well as GH¢384.7 million in fees and levies, in just six months. Beyond its core business, Mr Dogbe highlighted interventions by the MTN Gha…