https://www.engineeringnews.co.za
Africa|DIGITALISATION|Innovation|Service|Solutions|Infrastructure
Africa|DIGITALISATION|Innovation|Service|Solutions|Infrastructure
africa|DIGITALISATION|innovation|service|solutions|infrastructure

European Investment Bank backs MTN Nigeria

28th October 2022

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

Telecommunications giant MTN Nigeria has secured €100-million backing from the European Investment Bank (EIB) in the largest EIB financing deal for high-speed telecommunications expansion in Africa.

The financing will support the telecommunications company’s high-speed network expansion programme, accelerating fourth-generation (4G) coverage in Nigeria and expand broadband access in line with MTN Group’s Ambition 2025 strategy.

It will improve network capacity across the country to accommodate rising data traffic and enhance coverage in the Lagos and Ogun states, with over 74-million customers to benefit from transformed digital communications.

“We are committed to leading digital solutions for Nigeria’s progress. This requires the continuous upgrade and expansion of our infrastructure to enable us to deliver superior service. The €100-million financing agreed with the EIB will accelerate 4G coverage, enhance network capacity and drive innovation that will benefit our customers,” says MTN Nigeria CEO Karl Toriola.

“Accelerating large scale investment in telecommunications networks is essential to ensuring reliable access and enabling daily living and economic activity. The EIB is committed to unlocking transformational digital investment across Africa and is pleased to provide €100-million backing for MTN Nigeria’s ambitious network expansion programme,” adds EIB VP Ambroise Fayolle.

Over the last five years, the EIB’s support for digitalisation across Africa surpassed €2.5-billion of transformational investment.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

SEW-EURODRIVE at Nampo 2024
Updated 2 hours 32 minutes ago
Uniclox at Nampo 2024
Uniclox at Nampo 2024
Updated 2 hours 33 minutes ago

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Dachser South Africa at Nampo 2024
Dachser South Africa at Nampo 2024
Updated 2 hours 33 minutes ago
AUTO-X at Nampo 2024
AUTO-X at Nampo 2024
Updated 2 hours 35 minutes ago
Astron Energy at Nampo 2024
Astron Energy at Nampo 2024
Updated 2 hours 36 minutes ago
Omnia at Nampo 2024
Omnia at Nampo 2024
Updated 2 hours 37 minutes ago

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.071 1.136s - 170pq - 2rq
Subscribe Now