Nigeria's Ntel seeks $1 billion for mobile broadband growth

Kamar Abass, CEO, Ntel

Nigerian Internet provider Ntel is seeking more than $1 billion to invest in 4G mobile broadband by 2020 as the owner of the former state landline company seeks to take advantage of a rising number of smartphone users in Africa’s most populous country.

“We are speaking to investors and to banks who are interested in a growth story for Africa,” Chief Executive Officer Kamar Abass, 51, said in an interview on March 31. “We are seeing the very beginnings of a shift from a voice-oriented communications market in Nigeria to one that will be dominated by mobile broadband.”

Read more: Nigeria’s Ntel Seeks $1 Billion for Mobile-Broadband Growth – Bloomberg