MTN Group

12 May

MTN In Advanced Talks To Sell Some West African Assets

wontumionlineBusinessAxian Group, MTN Group, Ralph Mupita

MTN Group is in advanced talks with Axian Group to sell some of its West African markets, according to people familiar with the matter, as Africa’s largest mobile operator trims its portfolio. The companies are negotiating on prices for MTN’s assets in Liberia, Guinea-Bissau and Guinea-Conakry, said the people, who asked not to be identified as the information is private. The deal has not been finalised, and there is no guarantee that a transaction will go ahead, they said. The three countries accounted for 1.6% of MTN’s revenue in 2022, according to data compiled by Bloomberg. A representative for MTN…

03 Feb

Growing List Of Companies Ordered By GRA To Pay Back-Taxes

wontumionlineBusinessBack-taxes, Ghana Revenue Authority (GRA), Gold Fields Ghana Limited, IMF Programme, Kosmos Energy Ghana, MTN Group, Tullow Oil PLC

The Ghana Revenue Authority (GRA) is asking some of the nation’s largest companies to pay millions of dollars in back taxes as the cash-strapped government scrambles to raise money and finalise a bailout from the International Monetary Fund (IMF). Gold Fields Ltd. and Kosmos Energy Ltd. have been told they owe back taxes, as have Tullow Oil Plc and Africa’s largest wireless carrier MTN Group Ltd. All of the companies dispute the government’s claims. Government has been forced to allocate most of its revenue to service an estimated 576 billion cedis ($48 billion) of public debt. “Ghana is clearly facing fiscal and economic challenges at the…