MTN GROUPsaid on Wednesday that it expects to spin off its Fibre Business within the next two years.

 

“The structural separation of the fibre business is also underway and is set to be completed within the next two years,” Ralph Mupita, MTN Group CEO, informed investors on Thursday.

He added that in this business, MTN made encouraging progress with the additional build of 670km of fibre in the period.

“Across the portfolio we now have 101 800km of proprietary fibre.”

MTN also disclosed that MTN GlobalConnect (MTN GC) continued to drive fibreco ambitions, scaling its fixed connectivity and wholesale mobility services and delivering a healthy H1 2022 performance as commercial momentum continued.

MTN GC signed fixed external infrastructure deals to the value of $8.9 million in total contract value terms (TCV) and external revenue grew by 7% year-on-year to $151.4 million, with mobility revenue up by 6%.

“With a focus on building scale infrastructure assets across Africa, we continued to expand our terrestrial fibre in our key markets, with the completion of approximately 1 200km of additional new fibre, of which MTN GC contributed about 545km,” MTN said in a statement.

“This brings our total inventory of proprietary fibre to approximately 100 544km. MTN GC also upgraded the EASSy subsea cable with 800Gbps capacity released.

“In March 2022, MTN GC also expanded into Kenya, establishing a wholesale and infrastructure hub in the region.”

 

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