MTN Group Chief Financial Officer, Tsholo Molefe, highlighted the impact and economic contribution made by the telecom giants and its subsidiaries in the countries where they operate as recently released financial tax report for 2023 revealed that MTN paid a hefty $3.3 billion in tax contributions across 19 markets.
Out of the total, MTN Ghana alone reported paying a hefty GHS5.9 billion ($469 million) in total taxes in the year under the review.
Reports say Mrs. Molefe emphasized that MTN’s contributions in its host countries go beyond the corporate taxes it pays but circle on other parameters. She also maintained that the company makes impactful socio-economic contributions to society through an evolving tax environment across the world and in Africa.
“These represent significant contributions to the fiscus of the jurisdictions in which we operate. These contributions are used to grow and enhance economic development in our various markets. We are very pleased to play our part in supporting Africa’s progress, and giving Africans hope, dignity and opportunity. Beyond the continent’s borders, the tax landscape continues to evolve,” said Molefe.
Mrs. Molefe acknowledged that various African leaders are faced with a reduced fiscal revenue and the need for greater government spending to support economic activity so are looking for new avenues for revenue generation which often includes broadening the tax base.
She stressed the significance of the recently released tax report and how it helps in boosting the confidence of their host countries while showcasing the economic contribution of MTN to their host countries.
“We recognize the important role our tax contributions play in uplifting communities across our footprint. Our voluntary Tax Report is an effort to explain our tax affairs in a comprehensive and transparent way, thereby underpinning the trust of our many stakeholders,” said Molefe.
Mrs. Molefe also hinted on MTN’s drive to utilize its core capabilities to ensure the socio-economic growth of its host countries with the belief that everyone deserves a modern connected life.
Part of MTN’s Corporate Social Investment strategy involves focusing its core initiative on digital job creation.
This, she said, allows MTN to address the digital skills shortage in Africa while simultaneously creating opportunities for economic growth through ICT-enabled programme, including its flagship MTN Skills Academy platform.
MTN Group CFO succeeded in highlighting the various impacts the firm has on its host countries besides paying corporate tax and how they benefit the host countries which they operate in while speaking on the recently released 2023 tax report.
