MTN Nigeria plans to invest 640 billion naira (approximately US$1.5 billion) over the next three years to expand broadband access across the continent’s most populous country. This is in line with the federal government’s 2020-2025 National Broadband Plan. It is also in support of MTN Group’s strategy, Ambition 2025: Leading digital solutions for Africa’s progress.
“Nigeria is one of our most important markets. We have a proud history of partnering with Nigeria and Nigerians to drive faster and more inclusive growth through digital transformation” .
MTN Group President and Chief Executive Officer Ralph Mupita
Ralph Mupita disclosed this during a three-day visit to Abuja and Lagos. During the three-day visit, the MTN Group President met with the President of the Federal Republic, H.E. Muhammadu Buhari and his Vice, Oluyemi Oluleke Osinbajo. He also met with the Minister of Communications and Digital Economy, Dr Isa Ali Pantami. Additionally, he held discussions with the Central Bank of Nigeria Governor, Godwin Emefiele.
Meanwhile, the MTN Group President reiterated MTN’s support for Nigeria’s plans to secure 90% broadband population coverage by 2025. This aligns with MTN Group’s belief that everyone deserves the benefits of a modern connected life. He stressed that it forms part of “our work to extend digital and financial inclusion across Africa”.
The Group’s President was accompanied by MTN Group Chief Financial Officer, Tsholo Molefe, MTN Nigeria Chairman, Ernest Ndukwe and MTN Nigeria CEO, Karl Toriola.
Auction of 500mhz 5G spectrum
The delegation welcomed Nigeria’s plans to auction 500MHz of 5G spectrum: five blocks of 100MHz in the 3500MHz band. According to Mupita, this will facilitate accelerated broadband access in the country.
Furthermore, Mupita noted that MTN Group’s plans to sell down 14% of MTN Nigeria to Nigerian investors have reached advanced levels. He assured that this would happen as soon as conditions become conducive. MTN Nigeria, in which MTN Group has a 78.8% stake, sought to have the largest retail shareholder base on the Nigerian Stock Exchange. Currently, MTN Nigeria has a market capitalisation of 3.4 trillion naira (US$8.2 billion) on the Nigerian Stock Exchange.
Moreover, The Group President hinted of the intention to construct a new office at Legos.
“To mark the 20th anniversary of MTN’s operations in Nigeria, MTN Nigeria plans to build a new flagship headquarters in Lagos”.
Launch of OpenRAN in Africa
Just las week, MTN Group launched OpenRAN in Africa. According to MTN, this is “an innovative technology that will enable us to launch new services more quickly, cost-effectively and seamlessly, supporting our strategy, Ambition 2025”.
“We plan to modernise our radio access networks using OpenRAN. This is in line with one of five vital enablers of our strategy: to build technology platforms that are second to none”.
Also, MTN indicated that this will allow for the rapid expansion of 4G and 5G population coverage across its markets. With up-to-date technology, MTN expects a reduction in its power consumption and associated carbon emissions.
“This, in turn, supports our plans to decarbonise our network and achieve net zero emissions by 2040, our Project Zero”.
READ ALSO: Invest in artificial intelligence to fight crime- KTU Pro-Vice Chancellor
