
Audio By Carbonatix
Telecommunications firm MTN Group will invest $1.6 billion in Nigeria, the company said, after it resolved a major legal case with the government in its biggest market.
Earlier this month, Nigeria’s attorney general said he had withdrawn a $2 billion tax demand against MTN, bringing to a close the company’s latest disagreement with the government.
The South African firm has for years been dogged by legal woes in Nigeria as the government has sought billions of dollars for various alleged infractions.
In a statement issued late on Wednesday, the company said it now planned to invest $1.6 billion, or roughly 580 billion naira, over three years in its network and operations in Nigeria.
“We are fully aligned with the strategic agenda of the Nigerian government and are committed to strengthening the digital economy of the country,” said MTN Chairman Mcebisi Jonas in the statement.
Investors have said the legal rows with MTN have damaged the West African country’s appeal, despite it having the largest economy and population on the continent.
Latest Stories
-
Publican AI system doesn’t determine values, it flags suspicious transactions – GRA Boss
5 minutes -
Balancing the scales: McDan Aviation, E&P, and politics of opportunity in Ghana’s economy
9 minutes -
GRA credits Publican AI system for exposing GH¢11bn port leakages
13 minutes -
Owabi, Barekese water plants face shutdown threat over pollution and power outages
20 minutes -
Catholic Bishops call for national dialogue on LGBTQ debate
25 minutes -
Softcare FM Manufacturing Ltd backs Consumer Health Week, pushes science-driven care agenda
26 minutes -
The Eyes of Ghana to premiere in April, spotlighting rare Nkrumah-era footage
29 minutes -
$31bn transferred without matching imports in five years — GRA boss
42 minutes -
JoyNews Impact Maker, Williams Akongbabre, presents award to people of Bawku West
43 minutes -
Kenya backs Morocco’s autonomy plan for Western Sahara, signals push for implementation
50 minutes -
Hip-hop pioneer, Afrika Bambaataa, dies aged 68
58 minutes -
Let OSP defend itself in Supreme Court case — Prof Prempeh
1 hour -
Emmanuel Kweenu Haizel aka Simpa Panyin
1 hour -
Police foil planned highway robbery in Ashanti Region, one suspect shot dead
1 hour -
Sunyani Technical University dismisses 3 students over examination malpractice
2 hours