MTN Group, Johannesburg has announced it would more than double capital spending in Nigeria in the 2016 fiscal year. The presentation which was posted on its website that it would spend 11.1 billion rand (726.13 million dollars) to upgrade its network in Nigeria. The figure is substantially dwarfs what was spent last year.
MTN’s plan will see the rollout of 3G network population
coverage from 67.23 per cent to about 90 per cent, it said in the presentation.
“The aggressive rollout of fibre to six Nigerian cities by the end of
2016 will enable the connections,’’ it said.
The information comes days after agreeing to
pay a heavily reduced penalty for missing a deadline to deactivate more than 5 million
unregistered SIM cards.
MTN announced recently that after months of
talks, it had agreed to pay a heavily reduced fine of 1.7 billion dollars or a third
of the initial penalty.
MTN remains the largest mobile phone operator
in Nigeria with 57 million subscribers, and the country accounts for about a
third of its revenues.
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