SOUTH AFRICA – MTN Group has announced that GlobalConnect, the company’s wholesale infrastructure company, is now an operating company (Opco) of the group.
The Opco, headquartered in Dubai, will continue to be led by current CEO Frédéric Schepens.
MTN GlobalConnect was established in 2017 as the main driver and commercial vehicle for the consolidation of MTN’s international and national major wholesale activities.
To further enable its growth, and in line with the group’s strategic focus on wholesale, the operational structure of GlobalConnect was revised, resulting in its establishment as an Opco.
Commenting on the development, MTN Group COO, Jens Schulte-Bockum said, “I am pleased that after less than two years of operation, MTN GlobalConnect has exceeded expectations, growing its customer base and revenue ahead of targets.
“I have no doubt that the team, led by Frédéric will continue to build on their gains to drive value to our operations, and lead MTN’s ambition to build Africa’s leading wholesale company.”
Offering the most complete backbone network in Africa, the company provides reliable solutions for fixed connectivity and international mobile services and is the single-entry point to the largest network infrastructure on the continent.
The company’s robust MTN.net and IP/MPLS network includes 47 multinational points of presence; 29 countries across the MEA region (Middle East & Africa); 14 Submarine cables; more than 100 000km of national and metro fibre network; and 31 multinational Network-to-Network interface enabling connectivity to global networks.
The South Africa-based telecommunications giant recently received regulatory approval to list on the Nigerian Stock Exchange (“NSE”).
Prior to the listing, the company said it had completed its conversion from a private company to a public company (Plc).
With the listing, MTN hopes to create a new telecoms asset class for investors and provide a wider group of Nigerians with a chance to participate in the MTN investment opportunity.