MTN Group reaffirms $10bn investment in Nigeria, calls for stronger South Africa-Nigeria economic ties

Telecommunications giant MTN Group has revealed that it has invested over $10 billion in Nigeria’s digital infrastructure since it began operations in the country in 2001.

The announcement, made during a high-level visit by South African Minister of Trade, Industry, and Competition, Parks Tau, to MTN’s Johannesburg headquarters, underscores the company’s enduring commitment to Nigeria’s digital and economic landscape.

During the engagement, Mcebisi Jonas, Chairman of MTN Group, highlighted the company’s pivotal role in strengthening bilateral economic ties between Nigeria and South Africa.

He described MTN’s journey in Nigeria as more than a business venture, calling it a platform for inclusive development and a symbol of what is possible when two major African economies collaborate.

“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,” Jonas stated.

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Since launching its Nigerian operations, MTN has grown to become one of the country’s most influential private-sector actors, now serving over 80 million subscribers, employing thousands of people directly, and supporting hundreds of thousands more across its extensive supply and service chain.

Jonas acknowledged the challenges of operating in Nigeria’s business environment, citing persistent issues such as currency depreciation, high inflation, and limited access to foreign exchange as constraints that hinder growth and investor confidence.

Despite these obstacles, he reaffirmed MTN’s long-term commitment to Nigeria, citing the country’s strategic importance and untapped potential within the African context.

Beyond financial returns, Jonas emphasized the social and developmental value of MTN’s footprint in Nigeria. The company has been instrumental in expanding digital access, promoting financial inclusion, and empowering individuals and enterprises through mobile technology.

Programs such as the MTN Media Innovation Programme, which brings emerging Nigerian media professionals to South Africa for immersive training, highlight MTN’s commitment to human capital development and cross-cultural understanding.

“Our presence in Nigeria has never been just a commercial venture; it has always been a platform for inclusive development,” Jonas reiterated.

Looking to the future, Jonas spotlighted the upcoming South Africa–Nigeria Trade and Investment Summit, set to take place later this year in Abuja, as a critical opportunity to deepen bilateral cooperation.

He described the summit as more than a diplomatic gathering, positioning it as a venue to resolve long-standing economic and policy challenges, foster reciprocal market access, and promote private-sector-driven growth between the two nations.

“The Summit serves not merely as a diplomatic engagement, but as a catalyst for reciprocal market access and the advancement of private sector-led solutions,” he said.

MTN also reaffirmed its role in driving Africa’s integration under the African Continental Free Trade Area (AfCFTA). With strategic investments in cross-border mobile connectivity, digital payment systems, and entrepreneurship platforms, the company is laying the digital infrastructure necessary to make AfCFTA a reality.

Jonas, however, cautioned that the success of the continental free trade framework will rely heavily not just on trade liberalization, but also on robust digital and physical infrastructure that enables true economic interconnectivity.

As MTN continues its pan-African expansion, Nigeria remains at the heart of its vision to build a digitally connected and economically inclusive Africa.