Chairman of MTN Nigeria, Dr Ernest Ndukwe has described telecom as Africa’s “invisible infrastructure,” stating that the sector underpins trade, financial inclusion, innovation and more, across the continent. He made the remarks at the 31st Nigerian Economic Summit (NES) in Abuja during the plenary session titled: “Titans on the Move: Africa’s Multinationals.”
Ndukwe said MTN has grown to become one of the largest operators globally, ranking among the top mobile operators in the world, with MTN Nigeria itself placed within the top 20 by subscriber numbers. “These rankings demonstrate that Africa is not just a consumer of global innovations; it can also create companies that compete at the highest levels. Expansion across African markets has proven that multinationals from this continent can shape the global conversation,” he said.
He pointed out that the COVID-19 pandemic demonstrated how indispensable telecom has become, as businesses, institutions, and governments relied heavily on mobile and digital platforms to continue operating. “It showed us that without robust telecoms networks, national economies would have been paralysed. This is why continued investment in telecoms infrastructure must be prioritised if Africa is serious about integration and growth,” he added.
According to Ndukwe, telecom does more than connect people. It creates access for millions who are excluded from formal banking and education systems. He cited the rise of mobile money as an example of how African innovations are solving uniquely African problems, with telecoms operators driving financial inclusion in markets where banking penetration is low.
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On the challenges facing African multinationals, he stressed the need for regulatory precision and long-term policy stability. “Telecom companies make investments that run into billions of dollars. Without consistent regulatory environments, it becomes extremely difficult to plan and sustain such levels of capital deployment,” he said.
Other panelists from different sectors reinforced these views. Olugbenga Agboola, CEO of Flutterwave, explained how fintech is bridging fragmented payment systems to make cross-border trade possible, while Girish Sharma, MD/CEO of Guinness Nigeria Plc, emphasised that building trust with local communities is key to sustainability.
The session concluded that African multinationals, from telecoms to fintech to consumer goods, are not only expanding across borders but also reshaping how economies integrate. For Ndukwe, the central message was clear: Africa’s prosperity will rest on how well its invisible infrastructure – telecoms, is strengthened and shared.
