MTN to secure USD3bn loan facility

23 Apr 2013

MTN Nigeria, the local unit of South African telecoms company MTN Group, is set to sign a USD3 billion medium-term loan facility with a consortium of unnamed banks. Local newspaper the National Mirror reports that around USD1.5 billion of the total will be invested in the ongoing expansion and modernisation of MTN’s mobile network in Nigeria. The company is aiming to roll out around 5,000 2G base stations in 2013, while a further 4,000 3G base stations are planned for installation. TeleGeography’s GlobalComms Database notes that MTN is Nigeria’s largest mobile operator by subscribers, with a total of 47.44 million wireless customers at the end of December 2012, representing a market share of 42.1%, well ahead of second-placed Globacom with 21.4%.

Nigeria, MTN Nigeria