MTN Group has hit out at the Central Bank of Nigeria over a demand to refund more than $8-billion allegedly illegally expatriated from the country over an eight-year period.
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Nigeria ordered four banks including Citigroup and Standard Chartered to refund more than $8-billion it says was illegally expatriated by MTN Group over eight years through to 2015.
MTN Group is facing pressure to list its unit in Uganda as Africa’s largest mobile phone company seeks to renew a licence in the country.
MTN Group remains on track to report a total 2018 dividend of R5/share, despite “continued challenges in repatriating funds from MTN Irancell”, it said in notes alongside interim results for the six months to 30 June.
MTN Group workers in South Africa are set to go on strike after a breakdown in wage talks with a key labour group. The Communications Workers Union sent MTN an intention to strike and 120 protesters gathered
MTN Group’s Nigeria offices are being picketed by the country’s biggest group of unions over an alleged refusal to allow staff to form workers’ groups, a claim denied by the continent’s largest wireless carrier
MTN Group CEO Rob Shuter said on Thursday at the telecommunications operator’s annual general meeting of shareholders that it still expects to declare a full-year dividend for 2018 of R5/share despite impending US
MTN Group plans to borrow as much as 400bn naira (US$1.1bn; R13.8bn) in Nigeria this year as Africa’s largest wireless carrier by sales seeks to fund local investment and replace existing debt in the continent’s
MTN Group expects the listing of its Nigerian unit on the Lagos stock exchange to be done by the end of 2018, its CEO said, after suggesting late last year that the process would be concluded by mid-year
Nigeria’s telecommunications regulator said tougher financial health checks on the country’s biggest mobile phone companies could prevent a repeat of last year’s collapse of debt-laden Etisalat and help stabilise