…flays operational challenges
MTN Group Chairman, Mcebisi Jonas, has cited currency depreciation, inflation, and difficulties in accessing foreign exchange as challenges that continue to affect operations and dampen investor confidence in Nigeria.
Despite its significant contributions, the MTN Chairman acknowledged that Nigeria’s business environment poses ongoing challenges.
He made this comment as the company revealed that it had invested more than $10 billion in Nigeria’s digital infrastructure since launching operations in 2001, highlighting its long-term commitment to the country travel guides.
Jonas said this during a high-level visit by South Africa’s Minister of Trade, Industry, and Competition, Parks Tau, to its headquarters in Johannesburg. He emphasised the importance of stronger bilateral ties between Nigeria and South Africa as the African continent stands on the brink of major transformation.
“MTN’s journey exemplifies what is possible when two great nations collaborate. As Nigeria’s largest South African investor, our presence has never been just a commercial venture but a platform for inclusive development. “Since commencing operations in Nigeria in 2001, we have invested more than $10 billion in the country’s digital infrastructure.
“Today, MTN Nigeria serves over 80 million subscribers, employs thousands directly, and supports hundreds of thousands of livelihoods across its extended value chain,” he said.
However, the company reaffirmed its long-term commitment to Nigeria, pointing to the country’s enduring potential and strategic importance to both MTN and the African continent.
The firm highlighted its pride in the social and developmental impact of its presence in Nigeria, citing expanded digital access, financial inclusion, and the empowerment of individuals and businesses through technology.
