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MTN Spends N504.33 Billion on Network Rollout in 2022

MTN Spends N504.33 Billion on Network Rollout in 2022

MTN Nigeria has revealed it spent N504.33 billion on network rollout in 2022.

The telco company made this disclosure in its financial statement 2022 sighted by Business Remarks.

MTN Nigeria CEO, Mr Karl Torila stated that , “Capital expenditure was N504.3bn, up 23.5 per cent, due to acceleration in coverage expansion, focusing on the 4G and 5G networks and our rural telephony programme.

“We deployed 9,027 4G sites, 588 5G sites and 778 rural sites. 4G accounted for approximately 76 per cent of the total sites deployed during the year. Core Capex, excluding the right-of-use assets, increased by 18.6 per cent to N361.0bn, slightly above plan to enable us to capture growth opportunities.

Click To Read: MTN Nigeria 4G Data Traffic Hits 79.5% as Coverage Rises to 79.1%

“Our accelerated Capex investments allowed us to capture growth opportunities in the data space while mitigating foreign exchange and supply chain disruption risks and the impact of rising inflation. Notwithstanding, the Capex intensity of 17.9 per cent was in line with our target levels, reflecting our disciplined approach to capital allocation. Free cash flow was up by 20.7 per cent to N566.0bn.”

“Our broadband coverage at the end of 2022 was 87.9%, up by 3.4%.

“Our mobile subscriber net addition was 7.2 million for the year, representing a good recovery from the impact of an increase in churn in Q3 2022 and demonstrating the effectiveness of our churn management initiatives and interventions to ramp up gross connections.

“Active data subscribers grew by 5.2 million and benefitted from our efforts to drive data conversion in new and existing subscribers. We accelerated the coverage and capacity of our 4G network in response to the rising data traffic, bringing 4G population coverage to 79.1% (up by 8.7%). 4G traffic now constitutes 79.5% (up by 9.7%) of the total traffic on our network”, Toriola said.

 

About Bukola Olanrewaju

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