MTN Group authorizes $149m capital expenditure for Ghana unit in 2012

South African based telecoms company, MTN Group has authorised an amount of approximately $149 million (ZAR 1,128 million) as capital expenditure (capex) for its Ghanaian subsidiary MTN Ghana for the year 2012, the Group’s 2011 financial results have shown.

The capex is up from the actual ZAR 851 million the Group made for its Ghanaian unit in 2011, according to the results released March 7, 2012. “Lower spend in Ghana due to change in capex strategy,” it said.

MTN hopes to add about 950,000 subscribers to its Ghana subsidiary which recorded 10,156 million subscribers as at the end of December 2011.

By Ekow Quandzie