MTN Raises 2016 Investment Capital By 50%

South Africa’s MTN Group said on Thursday that it had revised its capital spending in its home market up by 50 per cent to 12 billion Rand ($756 million) in 2016.

In a statement in Johannesburg, the mobile operator said the aim was to improve infrastructure and fund acquisitions.

MTN had said in March while releasing its annual results that it would spend 8 billion Rand in capital expenditure.

The firm had spent 11 billion Rand on capital expenditure in its South African in 2015.

(Reuters/NAN)