Telecommunications group, MTN, has announced plans to invest $215 million in telecom infrastructure in the Republic of Benin over the next three years.
According to a statement from the Group, the pledge was made during an MTN Group leadership visit to Cotonou, the highlight of which was a meeting with His Excellency President Patrice Talon.
The meeting was attended by MTN Group President and CEO Ralph Mupita, MTN Benin Chairman Amadou Raimi, Senior Vice President for Markets Ebenezer Asante, MTN Benin CEO Uche Ofodile and MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo.
MTN said it would also invest in building a state-of-the-art office for subsidiary MTN Benin. Present in 19 markets with around 292 million subscribers, MTN said it has tested its 5G services in the West African country, and the results show great potential. The substantial investment is the telco’s attempt to explore how this opportunity might benefit it and the host country.
What the MTN Group CEO said
Speaking on the company’s commitment to the country, MTN Group President and CEO Ralph Mupita, said:
- “MTN works to be a force for good in our markets, giving Africans hope, dignity and opportunity. We are grateful for the warm reception received in Benin, where we have trialled 5G services and see opportunities to progress this.”
- “We are committed to the development and upskilling of the Beninese youth and have made clear our desire to partner with the government and other stakeholders in this regard.”
The President thanked members of the MTN delegation for their commitment and looked forward to future collaboration as MTN Benin – with some eight million subscribers – marks a quarter of a century of operations.
Similar commitment in Nigeria
During a similar visit to Nigeria’s leadership in July last year, the Group had also announced plans to invest $3.5 billion in the Nigerian economy over the next few years. MTN Group Chairman, Mcebisi Jonas, who announced the plan said the vision is to become a pan-African company, by moving its investments from the Middle East to focus more on Africa, with Nigeria being at the forefront considering its accounts for its highest returns on investment.
At the meeting held at the State House in Abuja, Jonas revealed the planned multi-billion dollar investment, promising to mobilise other investors with about $1.5 trillion to invest in Africa’s biggest economy and the continent’s most populous nation.