MTN is investing $56.4 million in rural areas of South Africa

There’s been a few important updates from MTN.

MTN recently announced a partnership with US-based investment firm and Fintech company JPMorgan to help separate and build out its fintech arm which some estimate could be worth billions. 

Its South African head has also announced plans to invest $56.4 million in rural areas. The money, according to MTN, will be used to modernise existing network infrastructure and deploy newer ones in Limpopo and Mpumalanga. 

The Modernisation of Network South Africa project (MONZA) will also include the expansion of the 5G network in South Africa. While over 18 countries are still testing 5G in sub-Saharan Africa, South Africa is 1 out of 4 African countries, including Kenya, Nigeria and Zimbabwe to have deployed a 5G network. 

MTN is one of the 3 South African telecoms to have launched 5G but its reach across the country isn’t very wide. It’s faced a couple of challenges including clashing with the Independent Communications Authority of South Africa (ICASA) on spectrum allocation. 

Presently, MTN’s 5G covers less than 25% of South Africa but it appears its new $56.4 million investment will help it reach its 25% goal by the end of the year. MTN’s 5G connectivity will be rolled out to 58 new sites, in addition to the existing 53. 

Seventy-six new network sites will also be built across the rural communities of Limpopo and Mpumalanga while 230 will be upgraded.