MTN Group Commits $225 Million to Strengthen Operations in Cameroon

MTN Group has pledged an investment of $225 million over the next three years to enhance its operations in Cameroon. This commitment was announced by Group CEO Ralph Mupita during a meeting with Cameroon’s Prime Minister Joseph Dion Ngute and his delegation on the sidelines of the BRICS Summit in Johannesburg.

The company’s focus extends beyond financial investment; MTN aims to contribute to the advancement of future technologies like 5G and to ensure more equitable connectivity across the nation by enhancing rural network coverage. Currently, MTN Cameroon has already linked 97% of the country, with plans to achieve complete population coverage by 2025.

Mupita underscored Cameroon’s significance in MTN Group’s portfolio, labeling it a pivotal market. He mentioned, “Cameroon is a key market for MTN Group.” The commitment encompasses over $200 million for technology and network services and an additional $25 million to bolster the fintech business via the subsidiary Mobile Money Corporation.

Apart from investment discussions, Mupita addressed a contentious issue concerning MTN’s accounts in Cameroon, which have been frozen since September 2022. This was in response to a garnishee order tied to a dispute between a business magnate with government connections and a South African bank. The prime minister assured MTN that the government acknowledges its role as a major telecom player and is dedicated to resolving the issue fairly and swiftly.

The CEO’s discussions with Cameroon’s officials reflect MTN Group’s ongoing commitment to fostering partnerships, innovation, and responsible business practices on the continent.