Ndukwe urges Africa to prioritise investment in telecoms infrastructure
The Chairman of MTN Nigeria, Dr Ernest Ndukwe, has emphasized the need for African countries to prioritise investment in telecoms infrastructure to achieve sustainable growth.
According to a statement from MTN Nigeria, he made the remarks at the 31st Nigerian Economic Summit in Abuja on Wednesday during the plenary session titled ‘Titans on the Move: Africa’s Multinationals’.
“It showed us that without robust telecoms networks, national economies would have been paralysed.
“This is why continued investment in telecoms infrastructure must be prioritised if Africa is serious about integration and growth,” he added.
Ndukwe described telecommunications as Africa’s “invisible infrastructure” that underpins trade, financial inclusion, innovation and more, across the continent.
Chairman of MTN Nigeria, disclosed that MTN had grown to become one of the largest operators globally, ranking among the top mobile operators in the world, with MTN Nigeria itself placed within the top 20 by subscriber numbers.
“These rankings demonstrate that Africa is not just a consumer of global innovations; it can also create companies that compete at the highest levels. Expansion across African markets has proven that multinationals from this continent can shape the global conversation,” he said.
He cited that the COVID-19 pandemic demonstrated how indispensable telecoms has become, as businesses, institutions, and governments relied heavily on mobile and digital platforms to continue operating.
According to him, telecoms do more than connect people, adding that it creates access for millions who are excluded from formal banking and education systems.
He mentioned the rise of mobile money as an example of how African innovations were solving uniquely African problems, with telecoms operators driving financial inclusion in markets where banking penetration is low.
On the challenges facing African multinationals, Ndukwe emphasized the need for regulatory precision and long-term policy stability, adding, “Telecoms companies make investments that run into billions of dollars. Without consistent regulatory environments, it becomes extremely difficult to plan and sustain such levels of capital deployment.”
The CEO of Flutterwave, Olugbenga Agboola, explained how fintech is bridging fragmented payment systems to make cross-border trade possible.
On his part, the Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma, emphasised that building trust with local communities is key to sustainability.
The session concluded that African multinationals, from telecoms to fintech to consumer goods, are not only expanding across borders but also reshaping how economies integrate.