MTN Group bids for telecom licence in Ethiopia
Africa’s foremost telco, MTN is in line to obtain a telecom licence in Ethiopia. MTN Group has confirmed that it is participating with equity partners in a bid for a telecoms licence in the East African country. Ethiopia is Africa’s second most-populous country which represents the last and largest telco liberalization opportunity in the world.
Africa’s leading telco noted that its bid has been made in partnership with Silk Road Fund from China. MTN noted that other partners will be disclosed after a successful bid outcome. .
According to information obtained from its website, MTN Group President and CEO Ralph Mupita, in confirming the MTN and Silk Road Fund equity partnership bid, said:
“Ethiopia provides the largest telecommunication and digital services growth opportunity in Africa over the medium term and fits into our pan-Africa focus and platform strategy. We are being guided by our capital allocation framework in our assessment of this opportunity,”
Meanwhile, the telco noted that its participation in the bidding process is aligned with its strategy, Ambition 2025, which focuses on capturing growth from digital acceleration across the continent.
MTN has a long history of building and operating market-leading operations in numerous markets across Africa and the Middle East, including establishing greenfield operations. At the end of 2020, MTN Group had 280 million subscribers across 21 markets.
About MTN Group
MTN Group Limited, is a South African multinational mobile telecommunications company, operating in many African and Asian countries. The company was founded in 1994 as M-Cell with assistance from the South African government. Its head office is in Johannesburg. .As of September 2020, MTN recorded 273.44 million subscribers, making it the ninth largest mobile network operator in the world, and the largest in Africa. Active in over 20 countries, one-third of company revenue come from Nigeria where it holds about 35% market share.
RECOMMENDED ARTICLES
Comment
No comments found.