South Africa: MTN to invest $1 billion in Ghana
South Africa’s teleco MTN has agreed to invest $1 billion in Ghana over the next five years.
MTN Chief Executive Officer, Ralph Mupita said the company is committed to investing in the West African country following a tax exemption amounting to about $773 million in broadening their 5G network in Ghana to spur further growth across various sectors.
The Ghana Revenue Authority initially claimed that MTN had underdeclared its revenue by about 30% between 2014 and 2018 after a series of audits.
Once hailed as a regional growth model, it is going through its worst economic crisis in decades, fuelled by the adverse effects of the Covid-19 pandemic and the Ukraine crisis.
The West African state is facing an economic crisis with inflation at more than 50% and its cedi currency down sharply.
Related Posts
Sidney Wafula to assume role of BAT Kenya Managing Director in June
British American Tobacco (BAT) Kenya has unveiled a key executive shake-up as part of its succession strategy, naming…
By
Solar Africa’s David McDonald outlines realities of South Africa’s energy market
As South Africa’s energy sector continues its post-loadshedding evolution, optimism abounds at high-level discussions, but on-the-ground realities tell…
MTN Nigeria reports ₦5.2trn in service revenue for FY 2025
MTN Nigeria Communications Plc has released its audited financial results for the year ended December 31, 2025, reporting…
Risper Genga Ohaga appointed as APA Apollo Group CEO
East African Breweries Limited (EABL) Chief Financial Officer Risper Genga Ohaga has been named Group Chief Executive Officer…
Gallery
