MTN Nigeria Communications Plc (MTN Nigeria), a leading ICT company, hosted its Capital Markets Day at the Transcorp Hilton Hotel in Abuja, providing updates on its ‘Ambition 2025’ Strategy and shedding light on emerging opportunities in Nigeria’s digital economy.
The event, held on November 14th and 15th, attracted both local and international investors. Attendees seized the opportunity to engage with high-level representatives from the Nigerian government, discussing the country’s macroeconomic reforms.
MTN Nigeria executives presented a comprehensive overview of the company’s progress against key growth indicators outlined in the ‘Ambition 2025’ Strategy.
Karl Toriola, the CEO of MTN Nigeria, expressed enthusiasm about Nigeria’s liberal economic reform agenda.
He said: “I am encouraged and excited at the prospect of a liberal economic reform agenda for Nigeria that presents an opportunity to unleash its latent growth potential. The recognition that private sector investment will be critical to that is clear, and we are already seeing steps being taken to enable the business environment. We believe that Nigeria continues to present significant opportunities for us to deliver inclusive growth and expand access to connectivity while also supporting the drive for financial inclusion.”
During the event, Dr ‘Bosun Tijani, the Minister of Communications and Digital Economy, commended MTN’s role in driving progress and productivity in Nigeria’s economy.
The minister said: “If we are to talk about capital markets and the role of capital markets in nation building, I don’t think there is any other company that you can use as an example of how to develop a society that is much more than MTN. Not only is this (telecom) sector now responsible for driving significant progress and productivity in our economy, but for those who are following, we contributed over 18% of the GDP of our nation last quarter, which is quite significant for just one sector. …The case I’m making is that the best way for policies to work is for the private sector and investors to be willing to build with the government. For the private sector and investors to understand that whilst the government may be interested in opening up, the government will never learn if you don’t come and be part of building that economy.”
Ralph Mupita, President and CEO of MTN Group, discussed the company’s approach to the Capital Markets Day.
He said: “We felt it’s important we tell our story to the providers of capital in the way we know best and wherever we find ourselves, we will tell the story. One of the objectives is to expose the investors to the authorities, in particular around how the structural reforms will be made and the impact on investment. We are confident that the current administration is on the right path and will continue to advance the enabling environment for private sector growth in Nigeria.”
The Capital Markets Day extended beyond presentations, including a visit to Wuse Market in Abuja.
The event concluded with a gala night featuring performances from top Nigerian artistes, including Cobhams Asuquo and Made Kuti.