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DISCOVER THE TOP 20 SHAREHOLDERS OF MTN GHANA IN 2025.

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Discover the Top 20 Shareholders of MTN Ghana in 2025


MTN Ghana stands as a beacon in the telecommunications sector, driving digital transformation across the nation. Understanding its ownership structure offers insights into the entities that influence its strategic direction. As of December 31, 2023, the following are the top 20 shareholders of MTN Ghana:

  1. Investcom Consortium Holdings S.A.: Holding a commanding 77.23% stake with 10,222,914,770 shares.

    SCGN/JPMC Firstrand Bank Ltd GTI:73863: Possessing 2.87% ownership through 379,277,829 shares.

  2. Social Security and National Insurance Trust (SSNIT): With a significant 1.50% stake, totaling 198,745,480 shares.

  3. SCGN/SSB & Trust as Cust for Kimberlite Frontier, Africa Master Fund, L.P-RCKM: Holding 1.35% with 178,612,110 shares.

  4. Hunter Bofour Ltd: Owning 0.93%, equivalent to 122,904,743 shares.

  5. AFCAP Ghana Ltd, A.G: Also with 0.93% ownership, matching 122,904,743 shares.

  6. Dadek Holdings Ltd: Sharing the same 0.93% stake with 122,904,743 shares.

  7. Yeotech Company Ltd: Equally holding 0.93%, amounting to 122,904,743 shares.

  8. Scanvision Investments Limited Company: With a 0.93% stake, totaling 122,904,743 shares.

  9. STD NOMS/BNYMSANVLUX RE Eastspring Investments SICAV-FIS: Holding 0.83% through 110,306,438 shares.

  10. SCGN / Northern Trust Co. AVFC 6314B: Owning 0.75%, which is 99,915,882 shares

  11. STD NOMS/Trust Acct/BNYMSANV RE BNYMSANVFFT RE ODD, O KIL AFR: With 0.66% stake, totaling 87,464,313 shares.

  12. Coronation FD Mgers IRE on Behalf of the AFR FRTR Fund: Holding 0.45% with 59,552,104 shares.

  13. STD NOMS/Trust AC/BNYMSANV RE BNYMIL RE All AFR FD: Possessing 0.42%, equivalent to 55,212,451 shares.

  14. STD NOMS TVL Pty Momentum SP Reid Securities Ltd: Owning 0.30% with 39,700,132 shares.

  15. STD NOMS/ BNYM RE Vanderbilt University: Holding 0.32%, totaling 42,437,110 shares.

  16. CBN/HSOPS/FM1,HSOPS Front: With a 0.56% stake, amounting to 73,550,583 shares.

  17. Enterprise Tier 2 Occupational Pension Scheme: Owning 0.40%, which is 53,336,912 shares.

  18. GES OCC Pension -Databank Financials: Holding 0.37% with 48,368,296 shares.

  19. SCGN/JPMC RE Duet Africa Opportunities Master Fund, IC GTI:AEX26: Possessing 0.30%, totaling 40,122,120 shares.

Understanding MTN Ghana's Ownership Landscape

The ownership structure of MTN Ghana is pivotal in shaping its corporate strategies and operational decisions. A closer look at the major shareholders reveals a blend of institutional investors, pension funds, and private entities, each playing a role in the company's trajectory.


Dominance of Investcom Consortium Holdings S.A.

Investcom Consortium Holdings S.A. stands out with an overwhelming majority stake of 77.23%. This significant ownership underscores their vested interest and influence over MTN Ghana's strategic direction.

Role of Institutional Investors

Entities like SCGN/JPMC Firstrand Bank Ltd and the Social Security and National Insurance Trust (SSNIT) hold substantial stakes of 2.87% and 1.50%, respectively. Their involvement highlights the confidence institutional investors have in MTN Ghana's performance and future prospects.

Participation of Pension Schemes

Pension schemes such as the Enterprise Tier 2 Occupational Pension Scheme and GES OCC Pension -Databank Financials also feature among the top shareholders. Their stakes reflect a commitment to investing in stable and growth-oriented companies for the benefit of their contributors.

Financial Performance and Shareholder Returns

Despite facing economic challenges characterized by high inflation and currency depreciation, MTN Ghana reported commendable financial results in 2023. The company achieved a profit of GH¢3.98 billion and declared a dividend of GH¢0.175 per share. Such performance not only reinforces shareholder confidence but also positions MTN Ghana favorably in the Ghana Stock Exchange.


Implications of Shareholding Structure on Corporate Governance

The composition of MTN Ghana's shareholders has direct implications on its corporate governance. Majority stakeholders like Investcom Consortium Holdings S.A. have significant sway in decision-making processes, influencing policies and strategic initiatives. Conversely, the presence of institutional investors and pension funds introduces a layer of oversight, advocating for transparency, accountability, and




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