Ernest Ndukwe, Chairman of MTN Nigeria, says the telecommunications sector has become Africa’s “invisible infrastructure,” powering trade, innovation, and financial inclusion across the continent.

Ndukwe spoke during a plenary session themed “Titans on the Move: Africa’s Multinationals” at the 31st Nigerian Economic Summit in Abuja.

He said the sector’s impact on economic development and regional integration has made it as critical as roads or power in driving growth and improving access to opportunities.

“Telecoms is the invisible infrastructure that sustains our economies,” Ndukwe was quoted as saying in a statement on Friday.

“It underpins trade, innovation, and financial inclusion across the continent.”

According to him, MTN Nigeria has grown into one of the world’s top mobile operators by subscriber numbers, adding that its expansion across African markets demonstrates the capacity of “homegrown firms” to compete globally.

“These rankings demonstrate that Africa is not just a consumer of global innovations; it can also create companies that compete at the highest levels,” he said.
“Expansion across African markets has proven that multinationals from this continent can shape the global conversation.”

Ndukwe, a former Executive Vice-Chairman of the Nigerian Communications Commission (NCC), noted that the COVID-19 pandemic underscored the importance of telecoms services as businesses, institutions, and governments relied heavily on mobile and digital platforms to remain operational.

He said the pandemic also revealed 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 said.

Ndukwe added that telecommunications go beyond connectivity, serving as a key enabler of inclusion—particularly for Africans without access to traditional banking or formal education.

He cited mobile money as one of the continent’s most transformative innovations, describing it as proof that African companies can build homegrown solutions to local challenges.

The MTN chairman also called for stable and predictable regulatory frameworks to sustain growth in the capital-intensive industry.

“Telecoms investments run into billions of dollars,” he said.
“Without consistency in regulation and long-term policy stability, it becomes extremely difficult to plan and sustain such levels of capital deployment.”

Also speaking during the panel session, Olugbenga Agboola, Chief Executive Officer (CEO) of Flutterwave, said fintechs are breaking barriers in cross-border payments.

Girish Sharma, Managing Director of Guinness Nigeria, stressed the importance of local trust and sustainability in corporate expansion.