Nigerian Internet provider, Ntel, is seeking more than $1 billion to invest in 4G mobile broadband by 2020 as the owner of the former state landline company seeks to take advantage of a rising number of smart phone users.

Chief Executive Officer, Kamar Abass, said in an interview: “We are speaking to investors and banks, who are interested in a growth story for Africa.

“We are seeing the very beginnings of a shift from voice-oriented communications market in Nigeria to one that will be dominated by mobile broadband.”

Smile Telecoms Holdings Ltd. raised $365 million in August to expand its wireless Internet network in Nigeria, Uganda and Tanzania, while Lagos-based MainOne Cable Co. said in July it planned to raise $300 million.