MTN To Invest 600 Billion Naira On Network Infrastructure

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Technology giant MTN plans to invest about 600 billion naira in technical infrastructure over the next three years. The move seeks to help the company expand network coverage nationwide by 2024. It was announced in Lagos on Friday, May 15, 2020. Ferdi Moolman, CEO, during a speech at his first meeting. general annually.

Moolman said the company must keep up with new capital-intensive innovations and technologies. According to him, MTN plans to increase the coverage of its network throughout the country, keeping in mind at least 4G LTE. According to him, the head of MTN said:

Due to the nature of our business, we always have to keep up and innovate new technology which is capital intensive, our target is to have coverage across the country and a minimum of 4G network service across all locations.
Cash collateralized Letters of Credit, Forwards contracts, and favourable credit rating with major partners and vendors will make funding relatively easy for us, but we will also be cautious in our approach to limit foreign currency exposure

Currently, MTN holds about 40% of 4G network coverage across the country which translates to about 65 million data customers. The said amount is targeted at the rural areas in Nigeria. Moolman also noted the company’s success demonstrating its 5G capability. He said;

We closed the year with 132 cities covered by 4G and became the first mobile network operator in West Africa to demonstrate the capability of 5G technology.
We are excited about its potential for our customers and the country’s national development plans.
We maintained our leadership position in network net promoter score (NPS) as we continue to invest to improve service quality and drive expansion and innovation.

The investing of the said N600bn on its network infrastructure, will accelerate and boost its 4G network expansion as well as 5G introduction to the country.

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