SA mobile operator - The African Mirror

Jun

2023

MTN says asset seizure in Cameroon threatens operations

SOUTH African mobile operator MTN Group said that its Cameroon operations were threatened by the seizure of its bank accounts in the country as part of a dispute in which it plays no part. MTN Cameroon's accounts with more than 14 billion CFA francs ($22 million) have been frozen by a Cameroon court order since September 2022, as the company was brought into a loan dispute by a Cameroonian businessman, MTN said. Following a court decision on June 9, the funds were to be transferred into an escrow account managed by the court registrar, MTN Cameroon CEO Mitwa Ng'ambi told a…

Jan

2023

By The African Mirror

MTN Ghana hit with bill of $773 million for back taxes

BUSINESS

THE Ghanaian subsidy of South African mobile operator MTN Group has received a bill for back taxes of around $773 million, including penalties and interest charges, the parent company said. The Ghana Revenue Authority issued MTN Ghana with the bill after auditing it for the years 2014 to 2018 and inferring that the company under-declared its revenue by about 30% during the period, MTN said in a statement. The carrier, which has a presence in 19 countries in Africa and the Middle East, said it disputes the "accuracy and basis" of the assessment and that it would fight it. "MTN Ghana believes…

Mar

2021

By The African Mirror

South African mobile operator MTN eyes $65 mln deal for Syrian business

BUSINESS

MTN Group remains committed to negotiating a $65 million sale of its 75% stake in its Syrian unit, the South African mobile operator said yesterday, despite the business being placed under judicial guardianship last week. MTN Syria was placed under guardianship by a court in Damascus over alleged MTN violations of the terms of its licensing contract, which the state says deprived the government of revenue. MTN has denied the allegations and on Friday said that it intended to appeal. The appointed guardian, who is chairman of MTN Syria minority shareholder TeleInvest, will be responsible for managing day to day…