MTN has said it is ready to aid its Nigeria expansion project with the sum of N200 billion, which it will via bank loans and bonds.
According to MyBroadband, MTN, Nigeria’s and Africa’s largest wireless carrier will use the said fund to finance capital expenditure in a bid to increase its reach and efficiency of its network in Nigeria
Recall MTN listed its shares on the Nigerian Stock Exchange weeks ago. It registered 20.35 billion ordinary shares with the country’s Securities and Exchange Commission, with about 20 percent expected to be listed on the Lagos bourse.
By subscribers, MTN is Nigeria’s biggest telecom operator, having over 65 million subscribers out of the 172 million telecom subscribers in Nigeria on its network. The figure represents a 37 percent share of the market as of March 2019, according to the Nigerian Communications Commission.