Business
MTN to invest $1 billion on network improvements in Nigeria
Thursday, January 5, 2012
(Reuters) – MTN Group, Africa’s largest telecom, plans to spend more than US$1 billion this year on its Nigerian network, an official said on Thursday, as it looks to meet regulatory demands to improve service.
A spokesman for MTN Nigeria, Akinwale Goodluck, told Reuters in an e-mail the company had invested US$1 billion on network infrastructure in 2011 and was planning to spend more in 2012.
Johannesburg-based MTN, whose biggest market is Nigeria, was reprimanded last year by the Nigerian Communications Commission for failing to meet quality of service requirements.
MTN has said it must meet regulatory targets for improved service in Nigeria or face financial penalties.
The company has more than 40 million subscribers in Nigeria.