Telecom
How MTN’s ESG Strategy is Helping Fuel Nigeria’s Development Goals
MTN Nigeria’s 2024 Sustainability Report has provided a compelling case for how businesses can move from profit-centric models to purpose-led impact. As one of Africa’s leading tech companies, MTN’s environmental, social, and governance (ESG) strategy is not only helping the company remain resilient and competitive but also supporting Nigeria’s broader development goals — from economic inclusion to environmental sustainability.
L-R: Godstime Iwenekhai, Head, Issuer Regulation: Olufemi Shobanjo, Chief Executive Officer, NGX Regulation Limited; Jude Chiemeka, Chief Executive Officer, Nigerian Exchange Limited (NGX); Abubakar B. Mahmoud SAN, OON, Non-Executive Director and Chairman Social, Ethics and Sustainability Committee (SESCO), MTN Nigeria; Tobechukwu, Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria and Esosa Balogun, General Manager Risk and Compliance, MTN Nigeria at MTN Nigeria’s first-ever Facts About the Sustainability Report event held on May 8, 2025, at the NGX Office, Marina, Lagos
Kind Regards
The report, unveiled at an exclusive “Facts Behind the Sustainability Report” session held at the Nigerian Exchange Group House in Lagos on May 8, 2025, revealed that MTN Nigeria paid a staggering ₦764.2 billion in taxes and levies in 2024. This contribution reflects the critical role that large corporations play in shoring up public finances and enabling infrastructural growth.
This fiscal commitment is only one part of MTN’s wider development agenda. The company also spent ₦3.5 billion on Corporate Social Investment initiatives in 2024 alone, directly impacting over 663,300 Nigerians. These efforts span across health, education, youth empowerment, and community development. Programs like the “What Can We Do Together” campaign, the MTN Foundation’s Anti-Substance Abuse Program (ASAP), and its ICT and Business Skills initiatives have reached underserved communities and supported Nigeria’s youth, a critical demographic in Africa’s most populous nation.
“Beyond connectivity, we see ourselves as a partner in development,” said Tobe Okigbo, MTN’s Chief Corporate Services and Sustainability Officer, during the event. “Every naira we spend on sustainability is an investment in the future of Nigeria.”
On the environmental front, MTN’s sustainability efforts are beginning to show real, measurable outcomes. The company achieved an 11% reduction in its Scope 1 and 2 emissions compared to its 2021 baseline. This is in line with the global climate agenda and Nigeria’s commitment to reach net-zero emissions by 2060. MTN is also implementing energy-efficient practices across its network infrastructure, including investments in hybrid energy solutions and modernising its facilities for lower energy consumption.
On the social side, MTN Nigeria invested ₦3.5 billion in Corporate Social Investment (CSI) initiatives, directly impacting over 663,300 lives across education, youth empowerment, and health. The company has also been deliberate with its promotion of gender inclusion, with female representation in its workforce rising to 41.4%. More than 59.6% of its annual spend was directed to local suppliers, underscoring its commitment to empowering small and medium-sized enterprises (SMEs). These numbers reflect a business deeply invested in the prosperity of its people and communities, a cornerstone of Nigeria’s development aspirations.
In governance, MTN Nigeria’s report is a model of transparency and international best practices. The company is one of the early adopters of the IFRS S1 and S2 standards by ISSB — global frameworks that guide sustainability-related financial disclosures. The 2024 report is the second released under these standards, signalling MTN’s readiness for a future where sustainability reporting is a regulatory requirement and not just a voluntary action.
The event also featured remarks from key stakeholders, including the Nigerian Exchange Group, NGX Regulation Limited— all underscoring MTN’s leadership in fostering a responsible corporate culture.
What sets MTN’s strategy apart is its integrated approach: sustainability is not an add-on, but embedded into operations, governance, and decision-making. The company’s Social, Ethics, and Sustainability Committee (SESCO), led by Abubakar B. Mahmoud SAN, OON, ensures ESG targets are aligned with corporate strategy, monitored consistently, and championed at the highest levels.
MTN’s efforts feed directly into the United Nations Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), and SDG 13 (Climate Action). As Nigeria continues its journey toward sustainable economic recovery, partnerships between government, regulators, and responsible private sector players like MTN will be crucial.
By setting the pace in sustainability disclosures and delivering real-world impact, MTN Nigeria is proving that ESG isn’t just good ethics — it’s good business, and a viable model for other companies aiming to contribute meaningfully to Nigeria’s development story.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
Netflix has announced plans to invest more than €1 billion in Spanish film and television productions over the next four years, reinforcing its commitment to Spain as a key creative hub in Europe.
The announcement was made by co-chief executive Ted Sarandos at an event held at Netflix’s production studios near Madrid, celebrating the company’s 10-year presence in the country.
Sarandos emphasized that the investment would contribute significantly to Spain’s economy, create jobs, and enable the streaming platform to produce more local content. He was joined by Spanish Prime Minister Pedro Sánchez in unveiling the initiative.
Netflix first established its international production studios in Madrid in 2019, following the success of the Spanish-language hit series Money Heist.
Since then, its 22,000-square-meter facility has become one of Netflix’s major production centers within the European Union.
The company currently supports over 20,000 jobs in Spain, highlighting the nation’s growing influence in global entertainment.
The investment reflects Netflix’s ongoing strategy to expand its presence in European markets through original content and local talent.
China Expands Zero-Tariff Trade for Nigeria, 52 Other African Nations
Sterling Bank Pledges ₦2bn to Fully Fund University Scholarships
MTN Nigeria Unveils CPaaS Platform to Transform Business Communication
Aliko Dangote Signs out @ Dangote Sugar Refinery as Chairman
Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
NITDA Advocates Strategic Partnership in Research to Unlock Nigeria’s Digital Potential
NITDA, CISCO Empower Youth with Digital Skills
NIMC Plans to Register 95 Percent Nigerians by December
Cyberattack Could Cost it Up to $400m – Coinbase
FG Launches Online Citizenship, Business Management Platform
General News2 days agoAfDB to Provide $184.1mfor Africa’s Largest Solar Energy, Battery Storage Project
News2 days agoReport Reveals New Malware Posing as an AI Assistant Steals User Data
General News2 days agoCourt Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
Telecom2 days agoMTN Mulls Establishment of Fintech Firm in Nigeria, Others
E-Business2 days agoFG Mulls Fibre Optic Layout to Bridge Internet Gaps
News2 days agoAliko Dangote Signs out @ Dangote Sugar Refinery as Chairman
Telecom3 days agoMTN and Ecobank Launch Chess Championship to Empower Nigeria’s Youth
Telecom3 days agongCERT Issues High Alert to Nigerians Using Android Phones