MTN Group, a pan-African mobile giant, recently released its 2023 Tax Report, revealing a total tax contribution of $3.3 billion (R61.7 bn) across its 19 markets last financial year. As the company approaches its 30th anniversary, MTN’s Chief Financial Officer, Tsholofelo Molefe, emphasized the broader economic contributions the Group makes beyond just corporate taxes.
Impactful Socio-Economic Contributions
Molefe highlighted that MTN’s tax contributions are pivotal in fostering economic development in the regions where they 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,” she said. The evolving tax landscape, both within Africa and globally, has prompted many governments to seek new revenue streams by broadening the tax base and increasing tax types and rates.
“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,” Molefe added.
Corporate Social Investment
MTN’s corporate social investment is realized annually through various Corporate Social Investment (CSI) Foundations and divisions across their footprint. These initiatives ensure that the Group reaches the most vulnerable and marginalized communities. “In supporting the attainment of sustainable societies across our markets, we take seriously our responsibility to be a compliant and transparent taxpayer,” Molefe noted.
The company’s corporate social investment strategy aligns with its core belief that everyone deserves the benefits of a modern, connected life. By focusing on digital job creation, MTN addresses the digital skills shortage in Africa while creating opportunities for economic growth through ICT-enabled programs, including its flagship MTN Skills Academy platform.
According to the MTN Tax Report, another focus area aligns with the National Priority Areas (NPA) of the respective host countries and disaster relief projects during crises. “Through these ICT-enabled and NPA programs, we continue to serve and support the communities in which we operate, growing our impact year-on-year,” Molefe said. In 2023, MTN’s corporate social investment totaled R220 million, impacting the lives of 3.6 million community members, including 2.9 million youth.
Furthermore, 126.2 million women and young girls were empowered through MTN programs that allowed young people to engage in activities to grow their knowledge, access education, learn new skills, and develop through a diverse range of uplifting activities.
Operating in 19 markets, MTN has stringent measures in place to manage its tax affairs, ensuring that society fully benefits from the Group’s economic participation. These measures not only mitigate risk but also ensure that shareholders and other stakeholders are well-informed and confident in MTN’s operations.
