MTN Group, a leading African telecommunications company, has announced that it paid $3.3bn in tax contributions across its markets in 2023.
The mobile operator disclosed that in a statement posted on its website, as it marked three decades of operations.
Since its inception in 1994, MTN has evolved from a small South African start-up with 20 employees into a global telecommunications leader, employing over 17,500 individuals, representing more than 70 nationalities across 18 diverse markets.
“MTN’s commitment to socio-economic development is evident everywhere. In 2023, the group’s total tax contribution to governments across markets was nearly R62bn (over $3.3bn), supporting vital public services and infrastructure development,” the firm stated.
MTN Group President and Chief Executive Officer, Ralph Mupita, stated, “As we reflect on this significant milestone, we express our sincere gratitude to all our stakeholders, past and present, across multiple jurisdictions, for their support.
“We couldn’t have achieved this remarkable success without you.”
According to the mobile operator, in South Africa, its impact has been profound, as its network now reaches 97 per cent of the population, providing a foundation for digital inclusion and economic empowerment.
By investing in cutting-edge technologies like 4G and 5G, MTN explained that it ensured that South Africa remained at the forefront of technological advancement.
A recent study by KPMG showed that MTN South Africa’s contribution to the country’s GDP was substantial, making it a key player in the national economy.
“The evolution of handsets and the proliferation of apps have democratised access to information and essential services, from financial solutions to healthcare, education, and entertainment. This has been a game-changer for individuals and businesses alike,” the group expounded.
In 2023, the MTN Group recorded more than $11bn in revenue, demonstrating its market leadership and the growing demand for digital services across Africa.
This success has driven the company’s market capitalisation to over $8bn, solidifying its position as one of the continent’s most valuable companies.
More than 149 million people rely on MTN’s network for data access, fuelling a digital transformation that is reshaping industries and societies.
