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MTN in €100 million Nigeria network expansion

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – A FINANCING deal of €100 million with the European Investment Bank (EIB) will aid MTN Nigeria’s acceleration of fourth generation network technology (4G).

This will enable the country’s leading operator expand broadband access in line with MTN’s Ambition 2025 strategy.

This transaction represents EIB’s largest financing for mobile telecoms network expansion in Africa and is consistent with MTN Nigeria’s digital transformation and inclusion efforts.

“We are committed to leading digital solutions for Nigeria’s progress,” said Karl Toriola, Chief Executive Officer, MTN Nigeria.

“This requires the continuous upgrade and expansion of our infrastructure to enable us to deliver superior service,” he said.

Ambroise Fayolle, EIB Vice President, said the organisation was committed to unlocking transformational digital investment across Africa.

“Digital transformation offers Africa tremendous opportunities, and digitilisation is one of the priorities of the European Union partnership with Africa,” he said.

The EIB’s support for digitalisation across Africa has reached more than €2,5 billion over the last five years.

MTN Nigeria is one of Africa’s largest providers of communications services, connecting over 74 million people.

– CAJ News

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