MTN Bids In Ethiopia - To Solidify Leadership Across Africa
MTN Group has identified the second-most-populous country on the continent as its next target to expand reach across the continent. According to reports, MTN has confirmed that it has submitted its bid for a telecoms licence in Ethiopia.
The telecommunications giant will be participating with equity partners; however, only one of the partners' details has been released. So far, the Silk Road Fund, a Chinese state-owned investment fund, will be working closely with the giant towards the positive outcome of the bid. Should MTN be granted the licence, it has said, it will then disclose its other partners.
Ralph Mupita, MTN's Group President and Chief Executive Officer, released a statement saying that Ethiopia has the largest telecommunication and digital services growth opportunity in Africa in the medium term. Additionally, the country is perfect for MTN's Pan-African focus and platform strategy.
Furthermore, MTN's participation is aligned with the company's 'Ambition 2025 strategy', which focuses on capturing growth from the existing digital acceleration across the continent.
Ambition 2025 is anchored in building the most significant and most valuable platform business with a clear focus on Africa, said Mupita.
If granted the Ethiopian licence, MTN will significantly expand its massive subscriber base, which stood at 280 million subscribers across 21 markets at the end of 2020. Media reports have indicated that an Advisor in the Ethiopian Finance Ministry has suggested that the two operating licences on offer are in the selection process. The bid winner announcement will be carried out in roughly seven days.