• About
  • Contact
Tuesday, September 16, 2025
  • Login
No Result
View All Result
NEWSLETTER
Now Then Digital
23 °c
Pittsburgh
23 ° Tue
26 ° Wed
27 ° Thu
28 ° Fri
  • HOME
  • NEWS
  • POLITICS
  • BUSINESS
  • TECH
  • ENTERTAINMENT
  • LIFESTYLE
  • TIPS & ADVICE
  • HOME
  • NEWS
  • POLITICS
  • BUSINESS
  • TECH
  • ENTERTAINMENT
  • LIFESTYLE
  • TIPS & ADVICE
No Result
View All Result
Now Then Digital
No Result
View All Result
ADVERTISEMENT
Home News

MTN Group Announces $3.5 Billion Investment Plan for Nigeria, Amplifying Market Dominance

During the meeting held at the State House in Abuja, MTN Group Chairman Mcebisi Jonas outlined the company's ambitious investment plans for Nigeria.

Now Then Digital by Now Then Digital
July 11, 2023
in News, Nigeria
Reading Time: 2 mins read
1 0
A A
0
MTN Group to Invest $3.5 Billion in Nigeria

MTN Group Chairman Mcebisi Jonas and Nigeria's newly elected president, Bola Tinubu

0
SHARES
32
VIEWS
Share on FacebookShare on Twitter

MTN Group, the leading pan-African telecom provider, has unveiled a substantial investment plan of $3.5 billion for Nigeria, reaffirming the company’s strategic focus on its most lucrative market.

LAGOS, NIGERIA | NOW THEN DIGITAL — Pan-African telecom provider MTN Group has announced its ambitious plans to invest $3.5 billion in Nigeria over the next five years. This significant investment reflects the company’s commitment to its most profitable market.

MTN Group Chairman Mcebisi Jonas unveiled the investment plans during a meeting with Nigeria’s new president, Bola Tinubu, attended by MTN’s top executives and directors.

MTN Group to Invest $3.5 Billion in Nigeria
MTN Group Chairman Mcebisi Jonas and Nigeria’s newly elected president, Bola Tinubu

Nigeria: A Revenue Powerhouse for MTN Group

Operating in 19 markets, MTN Group derives the largest portion of its revenue from Nigeria. In the first quarter of 2023, the telecom giant witnessed a 9.4% increase in mobile subscribers, reaching 76.7 million.

The number of active data users also rose by 14.7% to 41.2 million, while mobile money wallets experienced growth of 1.2 million, totaling 3.2 million.

These impressive figures were accompanied by a significant 20.5% surge in service revenue, reaching $742 million. Earnings before interest, tax, depreciation, and amortization also displayed robust growth, increasing by 17.7% to $397 million.

A Strategic Meeting with President Tinubu

During the meeting with President Tinubu at the State House in Abuja, MTN Group Chairman Mcebisi Jonas announced the company’s intention to invest billions of dollars in Nigeria, aiming to mobilize additional investors with a potential $1.5 trillion earmarked for Africa’s largest economy and the continent’s most populous nation.

Expressing his confidence in Nigeria’s investment potential, Jonas applauded President Tinubu’s decisive leadership and swift implementation of structural reforms.

ADVERTISEMENT

Jonas stated, “The message you have given us is that Nigeria is investible, and with your election, we are seeing decisive, prompt, and keen interest in structural reforms.”

Supporting Nigeria’s Economic Reforms

Since his inauguration, President Tinubu has demonstrated his commitment to economic reforms that foster local businesses. Notably, he has terminated petrol subsidies and unified the naira’s multiple exchange rates, contributing to positive responses from the stock market.

Youmight also like

Uganda Airlines plans retirement of Bombardier CRJ-900 fleet.

Uganda Airlines Plans Retirement of Bombardier CRJ-900 Fleet Amid Maintenance Challenges

September 15, 2025
Kampala ceremony marks milestone in Uganda–Aga Khan partnership.

Aga Khan University opens in Kampala with promise of better healthcare and education

September 12, 2025
Zari shuts down paternity rumours after Diamond’s remarks.

‘They’re his’ – Zari Hassan on children with Diamond Platnumz

September 5, 2025
Bushenyi remembers ‘remarkable daughter’ Mary Karooro Okurut.

Mary Karooro Okurut: Uganda mourns former minister and author

August 13, 2025

President Tinubu remarked, “I am glad that the stock market is responding positively to the structural adjustments.”

MTN Group’s Vision for Progress

As Africa’s largest mobile network, MTN Group seeks to forge partnerships for progress across the continent.

The company aims to align its aspirations with those of its host countries, emphasizing collaboration with nation-states to achieve shared goals and promote socio-economic development.

Editor’s Note: If you find any of our content to be inaccurate or outdated, please contact us at press@nowthendigital.com

Source: Now Then Digital
ADVERTISEMENT
Now Then Digital

Now Then Digital

Now Then Digital offers breaking news and opinion articles, giving you a unique opportunity to see what goes on behind the scenes in Uganda, Kenya, Nigeria, South Africa and elsewhere.

Recommended For You

Uganda Airlines plans retirement of Bombardier CRJ-900 fleet.
Business

Uganda Airlines Plans Retirement of Bombardier CRJ-900 Fleet Amid Maintenance Challenges

by Now Then Digital
September 15, 2025
Kampala ceremony marks milestone in Uganda–Aga Khan partnership.
News

Aga Khan University opens in Kampala with promise of better healthcare and education

by Wafula Steven
September 12, 2025
Zari shuts down paternity rumours after Diamond’s remarks.
Entertainment

‘They’re his’ – Zari Hassan on children with Diamond Platnumz

by Kisitu Peter
September 5, 2025
Bushenyi remembers ‘remarkable daughter’ Mary Karooro Okurut.
News

Mary Karooro Okurut: Uganda mourns former minister and author

by Wafula Steven
August 13, 2025
ADVERTISEMENT

Related Articles

home depot return policy

Your Complete Guide to Home Depot Return Policy: Know Before You Go

2 years ago
Henry

Henry Kyemba, Author of Idi Amin Exposé, Passes Away at 84

2 years ago
Mandela Stadium Renovation

Mandela National Stadium Renovation Reaches 72% Completion Under UPDF Engineers

2 years ago

Popular News

  • Uganda Airlines plans retirement of Bombardier CRJ-900 fleet.

    Uganda Airlines Plans Retirement of Bombardier CRJ-900 Fleet Amid Maintenance Challenges

    0 shares
    Share 0 Tweet 0
  • Aga Khan University opens in Kampala with promise of better healthcare and education

    0 shares
    Share 0 Tweet 0
  • US rapper Lecrae to perform in Kigali for the first time

    0 shares
    Share 0 Tweet 0
  • ‘They’re his’ – Zari Hassan on children with Diamond Platnumz

    0 shares
    Share 0 Tweet 0
  • Mary Karooro Okurut: Uganda mourns former minister and author

    0 shares
    Share 0 Tweet 0

Connect With Us

Join our Newsletter

Who We Are

Now Then Digital | Breaking News from Uganda & Africa

Latest headlines from Uganda, Africa & the world. Explore politics, entertainment, sports, finance & more on Now Then Digital.

Sign Up For Our Newsletter

Now On Pinterest

Nigeria Tems to perform at Global Citizen Festival 2022 (1)

Global Citizen Festival 2022 Lineup, Burna Boy, Fireboy Album, Movie Room

cropped-william-ruto-declared-winner-in-kenya.webp

William Ruto Wins Kenyan Election

Uganda National ID Cards Cannot Be Used as Loan Security

NIRA Issues Warning Against Using National IDs for Loans

From Our Partners

  • Editorial Policy
  • Disclaimer
  • Corrections Policy
  • Fact-Checking Policy
  • DMCA Policy

© 2025 Now Then Digital - Breaking News from Uganda, Kenya, Nigeria & South Africa.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
    • Movies
    • Music
    • Sports
  • Lifestyle
    • Fashion
    • Travel
    • Tech
  • Health
  • Food

© 2025 Now Then Digital - Breaking News from Uganda, Kenya, Nigeria & South Africa.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.