The news:
- MTN Group has committed to investing $215 million in infrastructure in the Republic of Benin over the next three years.
- The infrastructural investment will include constructing the telco’s subsidiary office, MTN Benin.
- This commitment to invest in the country came during a visit to Cotonou by an MTN Group delegation led by President and CEO Ralph Mupita to meet with Benin”s President, Patrice Talon.
Also present at the meeting were Amadou Raimi, MTN Benin Chairman; Senior Vice President for Markets, Ebenezer Asante; MTN Benin CEO, Uche Ofodile; and MTN Group Chief Sustainability and Corporate Affairs Officer, Nompilo Morafo.
Already present in 19 markets with around 292 million subscribers, MTN says it has tested its 5G services in the West African country, and the results show great potential. The substantial investment is the telco’s attempt to explore how this opportunity might benefit it and the host country.
Emphasising the company’s mission to be a force for good in every market it’s present, CEO Mupita said the telco is in the business of giving Africans across the continent hope, dignity, and opportunity.
The telco aims to contribute to development efforts in Benin by partnering with the government and other relevant stakeholders to upskill and equip the Beninese youth. MTN Benin has been in business for 25 years and serves about eight million subscribers.
Commending the MTN Group delegation for their commitment towards development in Benin and on the continent, President Talon said he’s open to collaborating with the telco sometime in the future.
In 2023, MTN Group revealed its plans to invest $3.5 billion in Nigeria’s economy over the next five years to deepen investments in the country. It also promised to mobilise other investors to inject up to $1.5 trillion into the nation’s economy. This investment scored a major point for MTN Nigeria, which contributed the highest revenue to the group among its 19 markets in 2023
