Telecommunications firm, MTN is committing about $10 billion in the next five years to improving infrastructure, especially telecoms on the continent.
The firm, which operates in about 17 African countries, with the largest market being Nigeria, said investment in the telecommunications industry is only going to increase in the years ahead.
The President and Chief Executive Officer of MTN Group, Ralph Mupita, disclosed this during the latest episode of ‘Connecting Africa’ when he spoke with CNN’s Eleni Giokos, who was exploring how Africa’s telecommunications industry is transforming business and gearing up for a more interconnected continent.
Mupita was one of the CEOs of several major telecommunications companies in Africa interviewed on how their products facilitate trade.
Mupita said: “Investment in the telecommunications industry is only going to increase in the years ahead. We are going to spend approximately $10 billion over the next five years to ensure that Africa has the infrastructure to power its growth.”
With the African Continental Free Trade Area Agreement (AfCFTA) now on and has opened up trade across the continent and many areas, the telecommunications sector is a key part of the transformation.