Telcos spend N613bn on 4G, 5G
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Loading... - Robert Vwairhe
- 16 Feb 2023
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Investments in infrastructure by MTN Nigeria and Airtel Africa rose to N613.13bn in 2022, underpinned by capital expenditure in 5G and 4G, the financial statements of the two telcos have shown.
MTN spent N504.33bn on network rollout in 2022, while Airtel invested N108.79bn ($236m) during this period.
Total investment in network rollout in 2022 from the two telcos was a 14.19 per cent increase from the N536.91bn spent in the prior year.
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. Core Capex, excluding the right-of-use assets, increased by 18.6 per cent to N361.0bn, slightly above plan to enable us to capture growth opportunities.
“Our accelerated Capex investments allowed us to capture growth opportunities in the data space while mitigating foreign exchange and supply chain disruption risks and the impact of rising inflation. Notwithstanding, the Capex intensity of 17.9 per cent was in line with our target levels, reflecting our disciplined approach to capital allocation. Free cash flow was up by 20.7 per cent to N566.0bn.” Read More…
