Nigeria has outdone South Africa to emerge as the largest mobile telecom market in Africa with more than 61 million mobile subscribers, according to a new report.
The report revealed that a continued growth in the country in the coming five years will trigger prompt further competition among the growing number of network operators.
Nigeria’s telecom market was liberalized in 2003, which paved a way to enormous growth rates and has bought in new operators.
The telecom market grew by 23% a year earlier, taking up $8.4 billion in overall telecom service revenues. The mobile penetration rate, at present, stands at 42%. Nigeria’s total telecom is forecasted to grow at CAGR of 5.7 percent from the existing US$8.42 billion in 2008 to $11.14 billion in 2013. Out of the total, 83% is attributed to mobile service revenue over the next five years.
Moreover, the expected launch of various mobile voice and data services is going to benefit the suppliers of mobile network technologies, while demand for CDMA and GSM base stations will stand strong over the next several years.
Source: Wireless Federation.