MTN Group highlights over $10 billion funding in Nigeria, requires deeper South Africa-Nigeria cooperation
MTN Group has revealed that it has invested greater than $10 billion in Nigeria’s digital infrastructure since launching operations in 2001, highlighting its long-term dedication to the nation.
In keeping with an announcement from the corporate, MTN Group Chairman Mcebisi Jonas said this throughout a high-level go to by South Africa’s Minister of Commerce, Business, and Competitors, Parks Tau, to its headquarters in Johannesburg.
Mcebisi emphasised the significance of stronger bilateral ties between Nigeria and South Africa because the African continent stands on the point of main transformation.
“MTN’s journey exemplifies what is feasible when two nice nations collaborate. As Nigeria’s largest South African investor, our presence has by no means been only a industrial enterprise however a platform for inclusive growth.
“Since commencing operations in Nigeria in 2001, now we have invested greater than US$10 billion within the nation’s digital infrastructure.
“Right this moment, MTN Nigeria serves over 80 million subscribers, employs 1000’s immediately, and helps lots of of 1000’s of livelihoods throughout its prolonged worth chain,” he mentioned.
Navigating macroeconomic headwinds
Regardless of its vital contributions, the MTN Chairman acknowledged that Nigeria’s enterprise surroundings poses ongoing challenges.
- He cited forex depreciation, inflation, and difficulties in accessing international alternate as challenges that proceed to have an effect on operations and dampen investor confidence.
- Nonetheless, the Group reaffirmed its long-term dedication to Nigeria, pointing to the nation’s enduring potential and strategic significance to each MTN and the African continent.
- Greater than {financial} metrics, MTN highlighted its satisfaction within the social and developmental impression of its presence in Nigeria, citing expanded digital entry, {financial} inclusion, and the empowerment of people and companies by way of know-how.
- MTN additionally pointed to the significance of people-to-people engagement in driving true integration. One instance is the MTN Media Innovation Programme, which brings rising Nigerian media professionals to South Africa for immersive experiences geared toward constructing cross-cultural understanding and management capability.
“Our presence in Nigeria has by no means been only a industrial enterprise; it has all the time been a platform for inclusive growth,” Mcebisi added.
Trying forward, the MTN Chairman pointed to the upcoming South Africa–Nigeria Commerce and Funding Summit, scheduled for later this 12 months in Abuja, as a essential milestone.
The Summit, he mentioned, gives a platform to resolve long-standing bilateral points, encourage coverage reforms, and deepen institutional dialogue between the 2 nations.
“The Summit serves not merely as a diplomatic engagement, however as a catalyst for reciprocal market entry and the development of personal sector-led options,” he famous.
Enabling AfCFTA by way of digital foundations
As a pan-African operator, MTN emphasised its energetic function in laying the digital groundwork for the African Continental Free Commerce Space (AfCFTA).
This contains investments in cross-border cellular connectivity, digital cost techniques, and entrepreneurship-enabling platforms, important infrastructure to show the free commerce Treaty right into a useful {economic} actuality.
Nevertheless, Mcebisi warned that AfCFTA’s success will rely not simply on tariff reductions and regulatory alignment but in addition on digital and bodily infrastructure that permits companies and folks to attach seamlessly throughout borders.
