MTN Group has revealed that it has invested more than $10 billion in Nigeria’s digital infrastructure since launching operations in 2001, highlighting its long-term commitment to the country.
According to a statement from the company, MTN Group Chairman Mcebisi Jonas stated this during a high-level visit by South Africa’s Minister of Trade, Industry, and Competition, Parks Tau, to its headquarters in Johannesburg.
Mcebisi emphasized the importance of stronger bilateral ties between Nigeria and South Africa as the African continent stands on the brink of major transformation.
“MTN’s journey exemplifies what is possible when two great nations collaborate. As Nigeria’s largest South African investor, our presence has never been just a commercial venture but a platform for inclusive development.
“Since commencing operations in Nigeria in 2001, we have invested more than US$10 billion in the country’s digital infrastructure.
“Today, MTN Nigeria serves over 80 million subscribers, employs thousands directly, and supports hundreds of thousands of livelihoods across its extended value chain,” he said.
Navigating macroeconomic headwinds
Despite its significant contributions, the MTN Chairman acknowledged that Nigeria’s business environment poses ongoing challenges.
- He cited currency depreciation, inflation, and difficulties in accessing foreign exchange as challenges that continue to affect operations and dampen investor confidence.
- Nonetheless, the Group reaffirmed its long-term commitment to Nigeria, pointing to the country’s enduring potential and strategic importance to both MTN and the African continent.
- More than financial metrics, MTN highlighted its pride in the social and developmental impact of its presence in Nigeria, citing expanded digital access, financial inclusion, and the empowerment of individuals and businesses through technology.
- MTN also pointed to the importance of people-to-people engagement in driving true integration. One example is the MTN Media Innovation Programme, which brings emerging Nigerian media professionals to South Africa for immersive experiences aimed at building cross-cultural understanding and leadership capacity.
“Our presence in Nigeria has never been just a commercial venture; it has always been a platform for inclusive development,” Mcebisi added.
Looking ahead, the MTN Chairman pointed to the upcoming South Africa–Nigeria Trade and Investment Summit, scheduled for later this year in Abuja, as a critical milestone.
The Summit, he said, offers a platform to resolve long-standing bilateral issues, encourage policy reforms, and deepen institutional dialogue between the two nations.
“The Summit serves not merely as a diplomatic engagement, but as a catalyst for reciprocal market access and the advancement of private sector-led solutions,” he noted.
Enabling AfCFTA through digital foundations
As a pan-African operator, MTN emphasized its active role in laying the digital groundwork for the African Continental Free Trade Area (AfCFTA).
This includes investments in cross-border mobile connectivity, digital payment systems, and entrepreneurship-enabling platforms, essential infrastructure to turn the free trade agreement into a functional economic reality.
However, Mcebisi warned that AfCFTA’s success will depend not just on tariff reductions and regulatory alignment but also on digital and physical infrastructure that allows businesses and people to connect seamlessly across borders.
