(Ecofin Agency) - As part of its "Ambition 2025" strategy, MTN Group is focusing on empowering Bayobab, its wholesale fiber optic subsidiary. To strengthen its presence across Africa, Bayobab is in the process of securing the necessary regulatory permissions to operate in various markets.

In its 2023 annual results, the South African telecommunications giant revealed that Bayobab has acquired nine fiber optic companies in key markets, including Uganda, Côte d'Ivoire, and the Central African Republic. The subsidiary also took over the fiber optic network of MTN Zambia and invested in a new fiber optic route, facilitating the landing of the 2Africa cable in Ghana and Nigeria.

These investments are part of MTN Group's broader plan to divest its fiber optic business, leading to Bayobab shedding its former identity as MTN GlobalConnect in June 2023. The company is now positioning itself as a world-class, open-access digital infrastructure platform focused on Africa, serving not only MTN Group but also other third parties.

The spin-off of the fiber operations is expected to support the realization of MTN's "Ambition 2025" strategy, which aims to become the leading provider of digital solutions in Africa in the coming years. As of December 31, 2023, Bayobab boasted a 114,000 km fiber optic network across the continent, marking a significant milestone in its mission to connect Africa digitally.