A report by Moody’s Investors Service says that Nigeria holds the key to the growth of the telecom’s sector in Sub Saharan Africa.
Moody’s tipped Nigeria to lead the sector’s growth in Africa because of its large population and relatively low internet and mobile phone penetrations compared to its population.
It also estimated that mobile subscribers in SSA would increase by 150 million over the next five years, with most of the growth coming from markets with large populations and low penetration rates.
The report stated that African telecoms would benefit from strong growth but are faced with increasing sovereign risks.
It added that growth would be highest in the SSA countries with large populations and relatively low mobile penetration rates such as Nigeria, Ethiopia, the Democratic Republic of Congo, Tanzania and Kenya.