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Telecommunications giant MTN announced on Thursday morning that it would make a capital investment of $1,6 billion (about R23,5 billion at current exchange rates) in Nigeria over the next three years to expand its operations and network in the country.
MTN Group chair and former SA deputy finance minister, Mcebisi Jonas, recently led a delegation to meeting with Nigerian President Muhammadu Buhari. Other members of the delegation included MTN Nigeria chair Ernest Ndukwe, group CEO Rob Shuter and MTN Nigeria CEO Ferdi Moolman.
Earlier in January, MTN Nigeria withdrew its legal action against Nigeria’s Attorney General Nigeria and the Minister of Justice in a matter that saw the Nigerian authorities seek to recover around $2 billion in back taxes from the wireless carrier. MTN said it would be dealing with Nigeria’s tax authorities instead. — Fin24.
Online Reporter