MTN Group to Spend $1 Billion on Fast 3G Wireless Stations

MTN Group Ltd. plans to spend about 8 billion rand ($1 billion) to increase the number of third- generation wireless stations for faster data transmission in South Africa, and may install quicker technology if the government approves a license next year.

MTN aims to double its revenue from data services in the next four years to bolster growth as it foresees no major acquisition opportunities, Chief Executive Officer Sifiso Dabengwa said on Aug. 17. MTN and other African mobile-phone operators are betting that data demand will continue to rise, making up for sluggish growth from voice offerings, as more consumers use handsets to surf the Web.