MTN to pump USD1.4bn into Nigeria
By BiztechAfrica – March 8, 2012, 2:26 p.m.
MTN plans to spend around USD1.4 billion on its Nigerian infrastructure this year.
This is according to local Corporate Services Executive Wale Goodluck, who outlined the group’s annual results to journalists.
The investment will make up a significant proportion of the group’s planned capital expenditure for the year.
Goodluck said the investment would cover, among others, expansion of the radio network infrastructure and the building of metropolitan fibre and backhaul infrastructure.
MTN increased its subscriber base by 7,7% to 41.6 million in 2011 and ended the year with a market share of 50%.