5G rollout raises telecom foreign investment by 129%
-
Loading... - Zainab Giwa
- 24 Mar 2023
- 87 Views
- 0 Like
- 0 Comment
Fifth-generation technology rollout and investment in communication infrastructure increased foreign investments into the telecommunication sector by 129.21 per cent in the first 11 months of 2022, according to capital importation data from the Central Bank of Nigeria.
Capital importation into the telecom sector was $174.47m from January to November 2021. It jumped to $399.91m in the corresponding period of 2022.
This leap in investment came after the successful auctioning of 5G spectrums to MTN Nigeria and Mafab Communications Limited in December 2021. According to the GSMA, the global body for telcos, telcos would need to invest $500m and build 6,000 base stations to successfully roll out 5G in 10 top cities of the country.
In 2022, MTN Nigeria and Airtel Africa disclosed that they invested N613.13bn in infrastructure in 2022. This signified a 14.19 per cent increase from the N536.91bn they both spent in 2021.
Commenting on its investment, MTN said, “Capital expenditure was N504.3bn, up 23.5 per cent, due to acceleration in coverage expansion, focusing on the 4G and 5G networks and our rural telephony programme.
“We deployed 9,027 4G sites, 588 5G sites, and 778 rural sites. 4G accounted for approximately 76 per cent of the total sites deployed during the year.” Read More…
