The South Africa-based MTN Group said it had invested over $16 billion in Nigeria over the past 15 years of MTN Nigeria’s operations in the country, thereby contributing an estimated 4.5 per cent to its GDP. The Chief Executive Officer, MTN Nigeria Ferdi Moolman, disclosed this following the release of the company’s financial report for 2015 during which the company’s investments during the year amounted to $94 billion. The telco’s chief said that the Group’s Board and management were “proud of the fact that we are an integral part of the Nigerian economic and social fabric”, adding that MTN Nigeria remains committed to the country and that its top priorities are to improve network and service quality, as well as data speeds for our customers.
On compliance with regulatory requirements, he said that the telecoms company remains focus adding that “Although subscriber registration is highly complex given limited national identity databases and personal documentation, we remain committed to registering subscribers with the use of improved systems and processes.” Moolman said that in line with the Group’s vision of “leading the delivery of a Bold, New Digital World to customers,” it will MTN continue to invest in digital services, ranging from e-commerce to digital media and mobile financial and lifestyle services.
He said: “We have put in place the operating and management structures, as well as made critical investments, to ensure that we improve our competitiveness in 2016.MTN is an enabler of socio economic growth in Nigeria. Our infrastructure supports critical sectors of the economy, from financial services to oil and gas and commerce. We remain committed to Nigeria and will continue to invest in the country through our operations and the MTN Foundation”.
The industry top player also dsilcosed that the MTN Foundation had invested N18 billion in 550 projects with focus on three key areas of health, education and economic empowerment and empowered more than three million people in communities across Nigeria since its inception Meanwhile, the Group in its just published 2015 year ended 31 December financial report stated that the crisis in Nigeria affected the Groups EBITDA by 13.6 per cent with the provision of R9 287 million for the fine at the end of the reporting period. In the period under review, MTN Nigeria said it invested US$94 million in renewing its 2G licence, adding that it also concluded “the acquisition of Visafone Communications.
Source: http://nationalmirroronline.net/new/mtn-group-puts-investments-in-nigeria-at-16bn-in-15-years/