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Business News Wed, 15 May 2019

SSNIT gets GH¢9,937,274 as dividends from MTN

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Social Security and National Insurance Trust (SSNIT), has received an amount of nine million, nine hundred and thirty-seven thousand, two hundred and seventy-four Ghana Cedis (GH¢9,937,274) as its dividend from MTN Ghana.

SSNIT, which is said to be the largest shareholder of MTN Ghana has been presented that sum of money as its total dividend for 2018.

During the presentation which was held at the SSNIT head office in Accra, Chief Financial Officer of MTN Ghana, Modupe Kadri stated that, shareholders at the end of December 2018 approved a final dividend of 3 pesewas on ordinary shares, bringing a total dividend of 5 pesewas.

The 5 pesewas of share represents 81.1% payout of the profit after tax, he added.

Deputy Director General in charge of Finance Administration at SSNIT, Michael Addo, speaking to the media stated that, SSNIT’s mandate is to collect contributions, pay out benefits and invest the remaining to get appreciable returns.

These returns in turn improves the company’s reserves and equally meets their obligations.

He noted that, it is very essential for companies to register their employees at SSNIT because it boosts up their operations and also get adequate contributions to pay benefits to its customers.



Mr Addo called on other telecommunications networks and investment companies to emulate the deeds of MTN and also said his outfit looks forward to having a mutually beneficial relationship with MTN.

Background

Early 2015, MTN Ghana had to localize to become a listed company in the Ghana Stock Exchange, and went through the IPO process last year.

After going through the process, about 4,000 shareholders, companies including SSNIT invested with MTN, now, Scancom PLC.

They had their first AGM meeting yesterday, May 14, 2019.

Source: www.ghanaweb.com
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