MTN Cameroon

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The Cameroon government sold the state-owned GSM 900 network operated by Camtel Mobile to the South African Mobile Telephone Network (MTN) in January 2000 for US$60 million. MTN had planned to upgrade and expand Camtel-Mobile's network. The government had decided to sell the operator since the company was experiencing limited growth with only 5,000 subscribers. MTN had comitted to attract over 500,000 subscribers by the end of the license period. The company began operations in 2000. MTN owned 70% of the company, with 30% held by a local partner, Broadband Communication. MTN, in turn, was 100% owned by M-cell Holdings Limited. M-cell changed its name to MTN Group Limited as of October 14, 2002. By 2004, MTN was 81.18% public and 18.82% owned by Newshelf 664 (Proprietary) Limited which held the managment's interest. By 2004, MTN Cameroon was the fifth largest company in the country, and the leading telecommunications provider, servicing 779,000 subscribers. The company competed with France Telecom's Orange with 748,000 subscribers. By the end of 2005, MTN Cameroon invested US$29 million in infrastructure development upgrading its network and expanding the number of base transceiver stations, and had about 1,248,000 subscribers. Investmments in 2006 only available for Q1 and Q2. Total estimated by doubling those figures. 2007: annual report Capex 2011 based on MTN group annual report: parent capex * subscribers MTN subsidiary / subscribers of total MTN group