JOHANNESBURG, South Africa-Mobile network operator MTN reported it is contributing toward the New Economic Partnership for Africa’s Development (NEPAD) through social and infrastructure investments in six African countries. The network operator has invested 12 billion rand (US$1.3 billion) in bringing mobile communications solutions to Africa.
Yvonne Muthien, MTN’s group executive of corporate affairs, said: “MTN is driving economic progress in underdeveloped communities by installing new networks that boast the latest global technology and by investing in social development. As wireless technology continues to develop, disadvantaged communities will benefit most.”
MTN has made inroads in increasing coverage and teledensity in rural areas, and with the recent increase in foreign exchange liberalization, the group said it is in a strong position to secure operational success across Africa.
The MTN Group has invested a total of US$433.7 million on the continent, through MTN International, which manages the group’s continental investments in Cameroon, Nigeria, Rwanda, Swaziland and Uganda. MTN International has seen many operational highlights during the last six months, recording a profit of 353.8 million rand (US$39.8 million) after tax.
Many of MTN’s initiatives and projects are believed to coincide with NEPAD’s development priorities.
“In line with our vision to be the leading provider of communications services in Africa, MTN believes in being part of the fabric of the societies where it operates, and it believes that this approach will enrich the communities it works with and give substance to its commitment to an African Economic Renaissance,” added Muthien.
