MTN: Testament To The Capacity Of African Excellence And Ingenuity
…From now on, today, we must change our attitudes and our minds. We must realize that from now on we are no longer a colonial but free and independent people…That new Africa is ready to fight his own battles and show that after all the black man is capable of managing his own affairs.” – Osagyefo Dr. Kwame Nkrumah (Ghana’s Independence Day Speech, March 6 1957)
Almost four decades after Osagyefo Dr. Kwame Nkrumah’s famous Independence Day speech at in Accra, MTN was launched to give weight to and instantiate the words of this great African. This is not to suggest, however, that before MTN’s foray into the telecommunications market, no other indigenous African company was thriving. However, browsing through the pages of history, the socio-economic and cultural impact of MTN across Africa is clear.
In 1994 when MTN was launched in South Africa, the vision for every African to benefit from a modern connected world in a way that spurs Africa’s growth was clear. This vision has guided the company in its operations throughout the period of its existence, making it Africa’s favorite brand. The evolution of MTN, as recounted by Prof. Ivor Agyeman-Duah in his book ‘Telephone Conversations’, was not just business expansion but a medium for capacity building partly of a new black elite whose participation in the global economy was critical for the future.
The centrality of MTN to the growth and development of the African continent has become even more profound in the wake of the COVID-19 pandemic. MTN was able to address gaps in connectivity by improving the affordability of its services. Educational and health online facilities were zero rated and this resulted in over 19 million people across Africa being added to its data subscriber base, to reach a total of more than 114 million data users at the end of December 2020. By the end of June 2021, that number had grown to over 117 million.
During the pandemic, MTN also saw an increase in users of its Mobile Money (MoMo) service which allows Customers to store and send funds in a secure electronic account, with MTN processing more than 12,000 transactions a minute last year.
The protection of lives was a key during the pandemic and with the induction of Vaccines by the world health authorities, MTN donated an amount of US$25 million to support the African Union’s COVID-19 vaccination programme. The gesture was to help secure up to seven million doses of the COVID-19 vaccine for health workers across the continent, which contributed to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC).
In effect, MTN became a tool for social continuity. When the whole of Africa, like the rest of world, had to adapt to life online due to the covid-19 pandemic, MTN was there to ensure that life and living it was not curtailed. The very fabric by which our social lives were woven with during the pandemic was heavily reliant on the products and services of MTN.
MTN’s focus on the African continent, inextricably links the successes of Africa to that of the company. This philosophy provides a strategic focus for MTN in a way that drives the company to conduct its operations and allocate its human and capital resources in a way that leverages the opportunities that exist on the continent and produces profitable returns in the long-term.
One of such areas that MTN has driven change on the continent is the area of financial inclusion through its mobile money service. The determination to deepen digital and financial inclusion across Africa has been critical for MTN. The pan-African company believes strongly that Africa has an opportunity to grow economically by leveraging digital infrastructure and services to drive social-economic growth.
To do this, however, requires robust digital and telecommunications infrastructure across the length and breadth of the continent. As the Group enters a new stage of expansion, where ecosystems and platforms will drive growth, MTN is steadfast in its plans to make inroads into the financial services industry towards the ultimate goal of promoting and driving financial inclusivity on the continent.
In Ghana, MTN Ghana revolutionized Ghana’s financial ecosystem with the launch of the MTN Mobile Financial Services, popularly known as MTN MoMo in 2009. The service has transformed Ghana’s financial industry and enhanced the country’s financial inclusion and ‘cashless economy’ drive. Today, the Bank of Ghana reports that there are over 19 million active mobile money accounts, driving Ghana’s digital economy.
There are also some 539,000 registered agents with a total number of 377 million transactions valued at GHS81 billion. MTN MoMo, which controls over 90 per cent of Ghana’s mobile money subscription, has been at the forefront of this hugely success story, a story that can largely be attributed to the collaboration between the regulatory authorities and industry players and MTN’s commitment to drive financial inclusion .
the impact of MTN’s interventions goes far and beyond connecting Africans in the most affordable and convenient way. The company’s Corporate Social Investment (CSI) projects, aptly conceptualized within the operations of the MTN Foundation, has brightened millions of lives and communities across the continent.
The limitations of this space will not allow for a full appreciation of the impact the company is making in communities on the continent. However, anyone in any of the 19 countries MTN has operations in will bear witness to this narrative. Today, MTN remains the ‘Most Admired African Brand’ in the Brand Africa 100: Africa’s Best Brands 2021 survey.
The road to this achievement has certainly not been an easy one but it goes to prove that indeed, the African is capable of managing his/her own affairs.