MTN to invest US$1bn in network expansion over 5 yrs

MTN Ghana has reaffirmed plans to invest US$1 billion in capital expenditures over the next five years to expand its network and enhance services.

CEO Stephen Blewett, at the Ghana Stock Exchange's ‘Facts Behind the Figures’ forum, highlighted the company's ongoing network modernization efforts, including advanced technology upgrades like ‘massive MIMO.’

In 2024, MTN invested US$200 million, focusing on IT and network infrastructure. The company reported a 31.2% year-on-year revenue growth in H1 2024, driven by a 55% increase in data revenue and strong growth in mobile money and digital services.