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MTN highlight company’s efforts to deepen digital and financial inclusion

April 1, 2019 • Features

MTN highlight company's efforts to deepen digital and financial inclusion

MTN highlight company’s efforts to deepen digital and financial inclusion

MTN Group has released its integrated and sustainability reports for the period ending 31 December 2018, setting out how the group creates value and highlights the six distinct growth opportunities the company is pursuing across the voice, data, digital, fintech, enterprise and wholesale markets.

The integrated report is MTN’s primary communication to stakeholders and aims to enable them to make an informed assessment of MTN’s performance and prospects. It is the company’s value-creation story. The sustainability report aims to provide a balanced, accurate and accessible overview of MTN’s strategy and performance relating to socio-economic, labour and environmental issues, and ethics and human rights.

As part of efforts to enhance digital inclusion, in 2018, the company started executing its dual-data strategy aimed at enhancing digital inclusion. Other key highlights include the expansion of active data users by 10 million to 79 million. The company highlights the growth in MTN Mobile Money users to 27 million, with services revenues of approximately R8bn as part of its efforts to drive financial inclusion.

In 2019, the company will continue implementing its CHASE framework to accelerate internet adoption by addressing issues related to quality coverage, handset availability, affordability, services and education to bring new opportunities to people previously excluded from the digital world.

MTN will also extend initiatives to make smartphones more accessible and affordable, mainly through the launch of its low-cost 3G smart-feature phone, priced at approximately US$25. MTN also plans to launch Mobile Money in South Africa, Nigeria, Afghanistan and Sudan and launch an advanced instant messaging and communications platform.

“As MTN, we are focused on solutions to enhance digital and financial inclusion and transform societies. We firmly believe that technology and connectivity can provide transformative solutions to some of the world’s complex challenges,” said Rob Shuter, MTN’s group president and CEO.

He added that, “In 2018 we unpacked what is really needed to connect people digitally and partnered with stakeholders who share our belief, that everyone deserves the benefits of a modern connected life.”

Tax contribution

The company also released its 2018 tax report, which shows that MTN’s contribution to tax revenues goes significantly beyond the corporate income taxes paid on its profits. In 2018, MTN’s total tax contribution was R24,1 billion, including but not limited to corporate taxes, indirect taxes, withholding taxes, payroll taxes, operating licence fees and other payments to government authorities.

Commenting on the tax report, MTN Group CFO, Ralph Mupita said, “The 2018 tax report yet again illustrates the significant contribution that the MTN Group makes to fiscal revenues in the various markets in which we operate, and call home.”

He added that, “We have a low tax risk appetite across all our markets and look to ensure that taxes due are paid. We further focus on ensuring that the highest level possible for tax compliance is adhered to across all markets.”

Edited by Neo Sesinye
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