Telecom
MTN Gives Progress Report on its Ambition 2025 Strategy as it Hosts Capital Markets Day
MTN Nigeria Communications has announced progress made so far in achieving its ‘Ambition 2025’ Strategy, and the emerging opportunities in Nigeria’s digital economy to local and international investors.
L-R: Ralph Mupita, President & Chief Executive Officer, MTN Group; Dr. Ernest Ndukwe (OFR), Chairman, MTN Nigeria; Taiwo Oyedele, Chairman, Presidential Committee on Fiscal Policy & Tax Reforms; Dr. Bosun Tijani, Hon. Minister of Communications, Innovation and Digital Economy; HRH, Lamido Sanusi Lamido, 14th Emir of Kano and Director, MTN Group; Karl Toriola, Chief Executive Officer, MTN Nigeria and Modupe Kadri, Chief Financial Officer, MTN Nigeria at the MTN Capital Markets Day held at Transcorp Hilton Hotel, Abuja, on November 15, 2023.
The ICT company made the announcement when it held its Capital Markets Day at the Transcorp Hilton Hotel in Abuja on November 14th and 15th, 2023.
The event was attended by local and international investors who had the opportunity to engage high-level representatives of the Nigerian government on the country’s macroeconomic reforms, as well as MTN Nigeria executives, who provided a comprehensive overview of the company’s progress against key “Ambition 2025” growth indicators.
Introducing MTN Nigeria’s presentations, the MTN CEO, Karl Toriola said: “I am encouraged and excited at the prospect of a liberal economic reform agenda for Nigeria that presents an opportunity to unleash its latent growth potential.
“The recognition that private sector investment will be critical to that is clear, and we are already seeing steps being taken to enable the business environment.
“We believe that Nigeria continues to present significant opportunities for us to deliver inclusive growth and expand access to connectivity while also supporting the drive for financial inclusion.”
In his remarks, the Minister of Communications and Digital Economy, Dr ‘Bosun Tijani, said “If we are to talk about capital markets and the role of capital markets in nation building, I don’t think there is any other company that you can use as an example of how to develop a society that is much more than MTN.
“Not only is this (telecom) sector now responsible for driving significant progress and productivity in our economy, but for those who are following, we contributed over 18% of the GDP of our nation last quarter, which is quite significant for just one sector.
“The case I’m making is that the best way for policies to work is for the private sector and investors to be willing to build with the government. For the private sector and investors to understand that whilst the government may be interested in opening up, the government will never learn if you don’t come and be part of building that economy.”
Commenting on MTN Nigeria’s approach to the Capital Markets Day, Ralph Mupita, the President and CEO, MTN Group said: “We felt it’s important we tell our story to the providers of capital in the way we know best and wherever we find ourselves, we will tell the story.
“One of the objectives is to expose the investors to the authorities, in particular around how the structural reforms will be made and the impact on investment.
“We are confident that the current administration is on the right path and will continue to advance the enabling environment for private sector growth in Nigeria.”
The Capital Markets Day also included a visit to the Wuse Market in Abuja, and a gala night, to serenade the investors with music from top Nigerian artistes including Cobhams Asuquo and Made Kuti.
Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.
The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.
To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.
The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.
The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.
It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.
By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.
The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.
With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.
Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.
This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.
This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.
Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.
Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.
The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.
Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.
Kingsley Madu
The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.
Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”
Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.
Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.
As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.
Nigerian fintech unicorn Moniepoint Inc. has finalised its acquisition of a 78% stake in Kenya’s Sumac Microfinance Bank, gaining a key deposit-taking licence for credit expansion in East Africa’s biggest economy.
The deal, marked by a Nairobi reception, bypasses the Central Bank of Kenya’s licence freeze, letting Moniepoint rival giants like Safaricom and Equity Group after a stalled Kopo Kopo bid.
It signals Africa’s fintech shift to licensed banking and mergers, equipping Moniepoint to roll out high-speed SME lending via Sumac’s 20-year-old infrastructure and branches.
The acquisition builds a cross-border merchant ecosystem beyond fees, integrating recent Orda buyout (cloud restaurant software) for “business-in-a-box” tools like inventory, payroll, and capital amid Kenya’s digital lending scrutiny.
Moniepoint, which hit $294 billion annualised transactions in 2025, eyes Kenya’s SMEs with Nigeria-honed retail expertise.
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