MTN Ghana, which realized the most important IPO in the history of Ghana’s financial market, ended the first nine months of 2018 with a negative working capital requirement.

In the financial reports published by the company during the period under review, the company presented a statement from which it appears that its current assets are estimated at GHC4 billion ($825 million), of which about GHC3.4 billion is in cash and cash equivalents.

At the same time, its short-term liabilities rose to GHC3.9 billion, including GHC1.1 billion of dividends and GHC2.9 billion as invoices to be paid. This is a good development for the company because, in 2017, its working capital requirement was about GHC460 million.

Overall, the company’s performances were good. Its turnover grew by 25% to reach GHC3 billion against GHC2.4 billion in 2017. Net profit was GHC600 million against GHC495 million last year. 

Idriss Linge