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Telecommunications in Nigeria: MTN Group wants to invest $3.5 billion over the next five years

14/07/2023
Source : ORISHAS FINANCE
Categories: Sectors

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With 85.58 million subscribers, for a 38.74% market share according to official statistics, MTN Nigeria is the country's telecommunications market leader. The country is thus one of MTN's main markets in Africa. The group is committed to investing 3.5 billion USD in its activities in Nigeria over the next five years.

McEbisi Jonas, President of MTN Nigeria Group, said his group plans to invest 3.5 billion USD in operations in Nigeria over the next five years. The latter made the announcement during the meeting of the company's executives with the new president of Nigeria, Bola Ahmed Tinubu. Indeed, this planned investment will make it possible to realize MTN Group's medium-term prospects for its Nigerian subsidiary. The company also plans to accelerate the development of the ecosystem of agents and merchants of its payment bank MoMo PSB in order to make it an important contributor to the growth of the group's fintech business

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