MTN’s tower strategy could open up Rwanda and Zambia

Guest columnist Kenechi Okeleke of BMI shares his view of potential MTN tower transactions

Read this article to learn:

  • Reviewing MTN’s tower strategy in South Africa, Nigeria, Cameroon, Cote d’Ivoire, Ghana and Uganda
  • Macroeconomic indicators and telecom market dynamics that suggest Rwanda and Zambia would be strong growth markets for towercos
  • Pros and cons in Rwanda: price competition and low ARPUs, slow subscriber penetration growth,mandated rural network extensions and a nationwide LTE network announced
  • Zambian initiatives to encourage network infrastructure development in underserved areas, including the UAP

BMI view South Africa and Nigeria are MTN’s biggest markets by a wide margin, in terms of both revenue and subscriptions. For the six months ended June 2013, the countries accounted for 65% of MTN’s consolidated revenue and 40% of its total subscriber base. These factors, along with other market dynamics, including the presence of…

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