Telecom giant MTN has dismissed assertions that Glo mobile’s entry into the market poses a threat to its operations and position as Ghana’s number one telecom operator.
Expectant customers of Glo had waited endlessly for the company’s entry after years of postponements.
Industry watchers contend Glo’s solid financial muscle and track record in Nigeria puts it in a firm position to later take over as the market leader.
However in an interview with Citi Business News, the Chief Executive Officer of MTN Ghana, Michael Ikpoki downplayed the assertions and indicated his company’s readiness to battle Glo head on for the market share.
He said “we’re in a competitive business. MTN in all our operations including Ghana, we provide compelling services, we excite our customers to be able to deliver our returns so the point is yes we’re competitors in the market.
“We’re still providing, we’re still doing what we need to do to make sure that we keep our subscribers and grow our subscriber base. What you see is we’ve grown our subscriber base by about 3% in the first quarter of this year so we’re on target in terms of where we set out for this year.”
Meanwhile MTN Ghana yesterday secured a loan of 410 Million Ghana cedis to help expand and improve its network in the country. The loan was raised by Stanbic Bank Ghana and Standard Bank South Africa through a syndication team of 16 local banks and 4 international banks who also raised an additional 60 million dollars for the operator.
Michael Ikpoki told Citi Business News the money is mainly to fund MTN’s capital expenditure for the years ahead.
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