European Investment Bank backs MTN Nigeria
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.
Comments
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation