MTN to invest US$120 million in South Sudan

 MTN to invest US$120 million in South Sudan

MTN Group Limited, a South African multinational mobile telecommunications company, operating in many African and Asian countries, has announced that it will be investing over $120m in capital expenditure in South Sudan over the next 3 years.

South Sudan's President Salva Kiir Mayardit has met a delegation from MTN Group of South Africa to discuss the plans and ways to improve MTN services in the country. The delegation pledged to strengthen and expand MTN services to rural areas, said the presidency.

According to a brief statement posted on the group’s official LinkedIn platform, both officials discussed issues of mutual interest, including investment in digital infrastructure and services.

The post reads: "MTN Group Chairman, Mcebisi Jonas, and MTN Group President and CEO Ralph Mupita concluded their visit to the Southern & Eastern Africa region by paying a courtesy call to South Sudan’s President, Salva Kiir Mayardit. They discussed issues of mutual interest, including investment in digital infrastructure and services. MTN will invest over $120m in capital expenditure in South Sudan over the next 3 years."

MTN South Sudan has also recently received approval to begin Mobile Money operations in South Sudan.

According to local media reports, MTN Group was adjudged for the second year in a row, the most valuable African brand in the Brand Finance Africa 150 rankings, which assigned the group a brand value of US$2.7 billion – US$1.0 billion above the next most valuable brand.

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