MTN Group is making “great progress” with Nigerian authorities in talks about US$10.1-billion in claims, encouraging Africa’s largest wireless carrier that it can settle the long-running dispute out of court.
Two years after pulling the plug on its Mobile Money service in South Africa, MTN Group plans to relaunch the service in South Africa, according to sources close to the matter.
MTN Group plans to buy music streaming provider Simfy, according to a report.
Is MTN Group on the verge of being chased out of its biggest market? Not a bit of it, according to CEO Rob Shuter.
MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.
Nigeria’s central bank governor will meet with MTN Group and four banks to negotiate a dispute over $8.1-billion the bank says was transferred illegally out of the country, sources said.
Nigeria wants to end a dispute with MTN Group over a claim that the carrier illegally transferred $8.1-billion out of the country, an indication relations between the two parties have started to thaw.
MTN Group is considering a replacement for long-time chairman Phuthuma Nhleko, with former deputy finance minister Mcebisi Jonas lined up as his possible successor.
Nigeria is seeking about $2-billion in back taxes from MTN Group, another curve ball directed at Africa’s biggest wireless carrier that’s come to light less than a week after it was ordered to refund $8.1-billion in “illegally” repatriated funds.
MTN Group CEO Rob Shuter said the company is committed to Nigeria even as it considers how to respond to an order to return $8.1-billion in repatriated funds.