African telecom operators are committing significant capital to spectrum, fibre, and network upgrades as data demand surges. Regulators are exploring new ways to make network investment commercially viable in increasingly data-intensive markets. The GSMA estimates that mobile operators in Africa will invest over $76 billion in network infrastructure between 2024 and 2030. This investment reflects a shift from basic coverage to capacity, quality, and usage.
Ghana has become a test case for attracting capital for 5G connectivity. MTN Ghana secured $202 million in spectrum, marking a move away from an exclusive wholesale 5G model. The National Communications Authority removed Next Gen Infraco's exclusive rights to operate as Ghana's sole wholesale 5G infrastructure provider, promoting a competitive wholesale market to drive investment, innovation, and wider access. This decision followed concerns about the pace and distribution of 5G deployment.
Nigeria faces similar pressure on existing networks, with data consumption rising nearly 47% to 1.66 million terabytes in July 2026. The Nigerian Communications Commission is preparing another auction of 2 x 100 MHz in the 3.5 GHz band to support 5G deployment and new digital services. The commission's September Digital Connectivity Investment Forum brought together regulators, investors, and infrastructure providers to examine investment requirements and barriers to deployment.
The investment challenge extends beyond spectrum auctions. Operators must finance towers, fibre, power, transmission equipment, and network upgrades before spectrum becomes usable capacity. In South Africa, Vodacom's Western Cape business will invest over R500 million in network infrastructure during the current financial year. This spending will support 5G capabilities, network capacity, energy efficiency, and resilience.
The scale of investment is visible in the balance sheets of Africa's largest operators. Airtel Africa's capital expenditure rose 31.9% to $884 million in the year to March 2026. The company deployed over 3,250 new network sites and expanded its fibre network by about 3,200 kilometres to 81,900 kilometres. Airtel Africa expects to increase investment to about $1.1 billion in 2026/27, excluding licence renewals and spectrum acquisitions.
Data demand drives this investment, with data revenue being Airtel Africa's largest mobile services revenue component in the year to March 2026. Data customers increased 14.8%, and data traffic continued to grow. This creates a stronger case for infrastructure sharing across the continent. MTN Group senior vice-president Ebenezer Asante argues that Africa cannot afford separate infrastructure for the same markets, advocating for shared ownership of critical digital infrastructure.
The push for infrastructure sharing gains relevance as operators prepare for demand from 5G, cloud computing, and artificial intelligence. MTN is leading an industry push for greater sharing of critical digital infrastructure, arguing that the traditional model of separate network construction is becoming harder to sustain. With 63% of Africans living within mobile broadband coverage but not using mobile internet, 5G is expected to account for 21% of mobile connections by 2030.
Key points
- African telecom operators face a huge 5G investment need of over $76 billion by 2030.
- Ghana and Nigeria test new 5G financing approaches through spectrum auctions and infrastructure sharing.
- Infrastructure sharing gains relevance as operators prepare for 5G, cloud computing, and AI demand.
