MTN South Africa’s business activities in 2021, which include capital infrastructure investments, operating expenses, and tax revenue contribution to the country, contributed to GDP and have been pivotal in driving economic growth.
“These contributions resulted in the creation of approximately 146 487 direct, indirect, and induced jobs across the ICT value chain and other sectors,” according to KPMG study published last week.
The recent True Value assessment, conducted by KPMG, underscores MTN’s commitment to our nation.
According to the report, the measurable Social Value of Jobs stood at an encouraging R1.9 billion, which refers to quantified impact of jobs created beyond salaries and wages; this quantification includes supporting independence, instilling a sense of purpose and empowering family structure to active economic participants.
This assessment method identifies a company’s most material socio-economic and environmental impacts, both positive and negative, and then quantifies them in financial terms. For MTN SA, the results highlighted the True Value created being 17 times the profit generated in 2021.
From creating job opportunities, investing in network infrastructure to fostering digital inclusion and reducing its negative environmental impact, MTN SA’s holistic approach to value creation goes beyond mere financial metrics. The company’s dedication to uplifting communities and ensuring digital and financial inclusion is evident in its every endeavour.
“We take immense pride in the fact that our true value creation significantly surpasses profits. Our contribution has a direct impact on the South African information and communications sector, resulting in an employment multiplier effect within the ICT sector and other sectors like wholesale and retail,” said Charles Molapisi, MTN SA CEO.
“Based on our view that MTN can only grow when the society, the economy, and ecosystems in which we operate thrive. We strive to leverage our core capabilities and technologies to enable the socio-economic development of society.”
MTN fundamentally believes that connectivity empowers individuals and drives social cohesion. This belief is manifested in the company’s efforts to drive digital inclusion by continuously connecting unconnected citizens and driving financial inclusion through its MTN Mobile Money Platform. In 2021, the overall Social Value-Added through our products and services amounted to approximately R450 million made up of R219 million from MTN mobile money (MoMo) and R230 million from newly established connections.
Customer feedback from the KPMG study highlighted the time and cost savings experienced when using mobile money, as well as increased security through cashless transactions in communities where citizens experience loss of money due to crime in communities. Overall, the analysis found that MTN’s contribution in this regard amounted to R219 million of the measurable Social Value-Added created.
“The feedback from customers on the impact experienced in using MTN MoMo is deeply inspiring as it validates our belief in driving meaningful financial inclusion,” said Molapisi.
The study also measured the social impact of newly connected customers. This impact talks to the value created for our people by enabling them to interact with friends and family, access education and learning, time, and cost savings for health-related activities, and for merely accessing entertainment and relaxation supporting their wellbeing. KPMG’s findings indicated an amount of R230 million in the measurable Social Value-Added.
“The True Value assessment offers so many positives and enables us to reassure our stakeholders of our shared commitment to realise business growth alongside progress in economic, social, and environmental sustainability. There is work to do, but we are on the right track to continue making a difference to the planet, society, economy, and in the communities, we serve,” said Molapisi.
