Information and communication technology (ICT) giant MTN says that it has created demonstratable socioeconomic contributions to addressing the triple challenges of unemployment, poverty and inequality, with its true value surpassing that of its profits.

Overall, says MTN South Africa CEO Charles Molapisi, the true value created is 17 times the profit MTN South Africa generated in 2021, as the company’s business activities, which include capital infrastructure investments, operating expenses and tax revenue contributions, contributed to gross domestic product and have been pivotal in driving economic growth.

“Our contribution has a direct impact on the South African ICT sector, resulting in an employment multiplier effect within the ICT sector and other sectors like wholesale and retail,” he says, referring to the creation of 146 487 direct, indirect and induced jobs across the value chain.

According to MTN’s recent True Value assessment, conducted by KPMG, the measurable social value of jobs – the quantified impact of jobs created beyond salaries and wages – stood at R1.9-billion.

This includes supporting independence, instilling a sense of purpose and empowering a family structure that facilitates active economic participants.

“From creating job opportunities, investing in network infrastructure to fostering digital inclusion and reducing its negative environmental impact, MTN South Africa’s holistic approach to value creation goes beyond mere financial metrics,” Molapisi says.

MTN believes that connectivity empowers individuals and drives social cohesion, as shown by the company’s efforts to drive digital inclusion by continuously connecting unconnected citizens and driving financial inclusion through its MTN’s Mobile Money (MoMo) platform, he continues.

The assessment, which identifies a company’s most material socioeconomic and environmental impacts, both positive and negative, and then quantifies them in financial terms, found that the overall social value added through MTN’s products and services in 2021 amounted to R450-million.

Molapisi points to the customer feedback from the KPMG study which 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, owing to crime.

“The social impact of newly connected customers talks to the value created for our people by enabling them to interact with friends and family; access to education and learning; time and cost savings for health-related activities; and for merely accessing entertainment and relaxation supporting their wellbeing.”

“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,” he continues

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