Telecom
MTN Secures $3Bn Facility to Upgrade Network
MTN Nigeria, with the largest subscriber base in the country has secured a $3 billion (about N470 billion) loan facility from a consortium of local and international financial institutions to upgrade its network.
MTN Nigeria hopes to utilize the 7-year loan facility to expand, modernise and improve its network infrastructure.
According to MTN, the loan consists $1.8 billion in additional facilities and $ 1.2 billion in restructuring of existing local facility.
The consortium of banks includes Zenith Bank Plc, Guaranty Trust Bank Plc, First Bank of Nigeria Limited, Access Bank Plc and Fidelity Bank Plc. All of whom contributed N55 billion ($345 million), N40 billion ($252 million), N40 billion ($252 million), N35 billion ($220 million) and N26.25 billion ($165 million) respectively.
Other lenders include: South Africa’s Nedbank and FirstRand, German state bank KfW, Citigroup, Standard Chartered Plc, Industrial and Commercial Bank of China, China Development Bank and China Construction Bank.
Brett Goschen, chief executive officer, MTN Nigeria, described signing of the loan deal as another strategic collaboration between the telecoms service provider and financial institutions to deepen telecommunications services in Nigeria.
The MTN boss applauded the participating financial institutions for passing a vote of confidence on the telecom company and signifies the strength of Nigerian financial institutions and their ability to stimulate significant economic growth in the nation.
Goschen added that MTN planned to invest over $1.5 billion in 2013, having invested $1.6 billion last year, adding that enhanced network quality is the group’s key focus.
“Enhancing our network quality is a key focus of the investment as we lead the delivery of a bold new digital world for our customers,” he said.
Goshen also explained that the deal is the sixth of such strategic partnerships with other notable ones including the $170 million commercial paper facility secured by the company in 2002, and a $395 million medium-term facility in 2003.
He stated that the 2003 deal was the largest African telecoms funding deal to close outside of South Africa at the time and won Project Finance magazine’s “African Telecoms Deal” for that year.
“In 2007, MTN Nigeria again partnered with various local and international financial institutions to raise $2bn to fund our rapidly expanding operations. It was again regarded as the largest loan syndication to any individual telecommunications company in Africa. In that year, it won the ‘African Deal of the Year’ by the EuroMoney Magazine,” he said.
Another of such deal was sealed in 2010 when MTN Nigeria partnered with 15 local financial institutions and two international lenders to raise another $2 billion, which was described as the largest corporate financing deal in the whole of sub-Saharan Africa.
“The essence of these deals was to enable MTN to make the necessary capital investments to expand our network infrastructure and meet the growing demands of our customer base. We certainly put that financing to good use, built the most extensive telecommunications network in Africa and grew our customer base to over 50 million subscribers,” Goshen said
Nigeria’s telecom operators recorded 155, 397 fibre-cut incidents between April and May 2026, and these they blame on why internet or calls suddenly stop working.
Data from the Nigerian Communications Commission (NCC) showed fibre-cut incidents increased from 74 276 in April to a record 79 121 in May, bringing the two-month total to the highest level recorded by the industry.
This represents a 2 428% increase from the 5 934 incidents reported during the first quarter of 2026.
Vandalism remained the leading cause of fibre cuts, accounting for more than 54 000 incidents despite telecom infrastructure being designated as Critical National Information Infrastructure, a classification intended to strengthen protection of key digital assets.
Also road construction constantly damages fiber where iggers and machines tear up buried cables during road repairs or construction.
Even with all these, some state governments make it hard for companies to fix cables quickly across different areas with all manners of fees and levies.
The NCC designation provides for penalties of up to 10 years’ imprisonment for offenders, but operators continue to face widespread infrastructure damage.
Proposed solutions, including Nigeria’s Dig-Once policy and AI-powered fibre sensing technologies, have yet to achieve widespread adoption.
The NCC is developing a cost-based framework for shared underground duct infrastructure, while operators are exploring AI-powered fibre sensing technologies that can detect cable damage in real time and improve network resilience.
Nigeria is pursuing ambitious broadband targets under its National Broadband Plan and has expanded fibre deployment to about 35 000 kilometres.
However, infrastructure protection has not kept pace with network expansion, leaving subscribers vulnerable to unreliable connectivity despite continued operator investment.
Standard Bank has partnered with Helios Towers to provide a $29 million Social Documentary Credit Facility. According to the financial services company, this transaction marks Standard Bank’s first Documentary Credit Facility structured in a Sustainable Finance format.
It notes that the facility will support the procurement and importation of telecommunications infrastructure and related services across Africa.
It will also provide payment certainty to suppliers, while supporting Helios Towers’ working capital requirements and infrastructure expansion programme, the bank adds.
Structured in accordance with the Loan Market Association’s Social Loan Principles, the financing is designed to promote digital connectivity and telecommunications infrastructure development in underserved markets.
This will help Helios Towers further expand its footprint and enhance mobile network coverage and connectivity across the continent.
Helios Towers operates one of Africa’s independent telecommunications tower platforms, enabling mobile network operators to extend coverage across multiple markets.
Standard Bank notes that the facility supports the expansion of tower infrastructure and services, increased network densification and improved connectivity in underserved markets and remote regions across the African continent.
It will also drive digital inclusion and tackle the digital divide while supporting economic growth and socio-economic development.
“This transaction demonstrates the power of innovation in trade finance. By combining a first-to-market Social Documentary Credit Facility with a cross-border funding solution, Standard Bank has supported Helios Towers’ growth ambitions while helping extend digital connectivity to underserved communities across Africa,” says Benoit Samouilhan, global transaction banker at Standard Bank Corporate and Investment Banking.
According to the bank, this facility enables positive social impact by increasing and improving network coverage and connectivity in some of the world’s most remote regions.
“Reliable digital infrastructure is fundamental to Africa’s future growth and development,” says Alex Carter, group finance director at Helios Towers.
“This facility provides us with the flexibility and certainty needed to support our ongoing infrastructure investments while advancing our mission of expanding connectivity across the continent. We value our longstanding relationship with Standard Bank and look forward to building on this partnership.”
Nigerian Communications Commission (NCC) will on Thursday convene a stakeholders’ consultative forum to review the draft business rules for Mobile Virtual Network Operators (MVNOs) in Nigeria.
NCC
The forum, scheduled to hold at 10 a.m. at the NCC Annex Office, Mbora, Abuja, is expected to bring together telecommunications operators, industry associations and other stakeholders to provide input on the proposed regulatory framework before its finalisation.
The commission announced the event on its official social media platforms, inviting interested stakeholders to participate in the consultation process.
The engagement is part of the NCC’s efforts to strengthen the regulatory framework for MVNO operations and promote greater competition, innovation and consumer choice in Nigeria’s telecommunications sector.
Mobile Virtual Network Operators are telecommunications service providers that offer mobile services by leasing network capacity from licensed Mobile Network Operators (MNOs), rather than owning spectrum licences or telecommunications infrastructure.
The NCC has identified the MVNO licensing framework as one of its initiatives aimed at deepening competition, expanding access to telecommunications services and driving digital inclusion across the country.
The consultative forum is expected to provide stakeholders with the opportunity to review the draft business rules, make recommendations and contribute to the development of a robust operational framework for the emerging MVNO segment.
The commission is expected to issue further details on the outcome of the consultation after the meeting.
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